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Deductions & credits
I assume you drove so many business miles, that using the "depreciation equivalent" , which is built into the Standard Mileage rate, shows you claimed more depreciation than the basis (cost) of the vehicle.
This doesn't happen often, but in this case, only report the amount of depreciation claimed UP TO the original basis.
Disregard the depreciation above that amount.
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March 12, 2023
11:43 AM