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Deductions & credits
So I'm a little confused still I think...
I never wrote off anything but the standard mileage deduction each year. (In other words, I never captured any depreciation for my car. I just multiplied miles driven by the rate each year and wrote that off.)
So when I sell my car, do I need to do anything? Perhaps recapture a portion of the mileage?
Seems weird I'd have to recapture any of the sale price of the car when I never wrote off any of the purchase price...
‎April 9, 2023
6:42 PM