PatriciaV
Expert Alumni

Deductions & credits

If you enter actual expenses for your vehicle, you will be given the opportunity to choose depreciation options, including Section 179. Vehicles are reported in a separate topic from other assets.

 

The standard mileage deduction has a built-in depreciation factor that may not provide the result you desire. And if you choose the standard deduction in the first year, you won't be able to claim actual expenses in the future.

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