Deductions & credits


@AmeliesUncle wrote:

Maybe.  But before we get to that, do you WANT to deduct the full cost?  In many cases, using the Standard Mileage Rate is a better long-term deduction.  And if you don't use the Standard Mileage Rate in the first year, you can never use it for that vehicle.

 


Depends on the cost of the vehicle.  Standard mileage rate works best if the vehicle is modest and you plan to own it a long time.