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Deductions & credits
The cost is indeed what you paid for it in 2017 but it would have been depreciated over the 5 years following that until 2022. So by now it would be fully depreciated and - if it is 100% business use - it would be worth zero dollars. If it is partial business use then the business use portion would be worth zero dollars.
You can still take mileage for a deduction, of course. But depreciation has run out on that one.
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‎April 7, 2025
8:44 AM