JamesG1
Expert Alumni

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.

 

 

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