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Deductions & credits
You may need the receipts in the case of an audit to substantiate the vehicle expenses. It is possible the IRS would not accept a credit card statement showing charges, they may want to see the actual receipt. Also, whichever method you use, you would need to maintain a mileage log to substantiate the business versus personal use of the vehicle.
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‎February 11, 2025
5:34 PM