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Deductions & credits
If the cost basis of the vehicle is $10,000 and your business use percentage is 63.31%, your depreciable basis is $6,331.
The maximum you can deduct would be $6,331 assuming no section 179 or luxury vehicle limitations.
Luxury vehicle limitations may be found here under Luxury Autos.
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‎April 13, 2022
5:25 PM