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Deductions & credits
sure.
however, depending on the type of vehicle, depreciation may be subject to the luxury auto limits
see IRS pub 463 page 16. this is the 2021 version. limits are slightly higher for 2022.
https://www.irs.gov/pub/irs-pdf/p463.pdf
if you use actual expenses in the first year for any vehicle you can not switch in later years to the standard mileage method.
‎December 13, 2022
5:14 PM
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