AmyC
Expert Alumni

Deductions & credits

Your basis in a vehicle is the amount paid minus depreciation due to business use. If you used actual expenses, you can add the total depreciation taken each year. If you took the standard deduction, part of it was considered depreciation. Take your business miles and multiply it by the depreciation for each year used.

 

For 2020, it was 27 cents per mile driven.

For 2019, 26 cents per mile.

For 2017 and 2018, 25 cents per mile,

For 2016 it was 19 cents per mile.

You can google  IRS mileage depreciation if you need more years.

 

@Terryh160

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"