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Deductions & credits
Basically, you have two options: deduct the standard mileage rate for business miles driven during the year, or deduct your actual vehicle business expenses (80% of your total vehicle expenses) for the year and depreciate the cost of the vehicle over time.
Please follow this link for a detailed explanation of your options. https://turbotax.intuit.com/tax-tools/tax-tips/Small-Business-Taxes/Business-Use-of-Vehicles/INF1207...
You may also want to review IRS Pub 463 to understand your options. https://www.irs.gov/pub/irs-pdf/p463.pdf
Please follow this link for a detailed explanation of your options. https://turbotax.intuit.com/tax-tools/tax-tips/Small-Business-Taxes/Business-Use-of-Vehicles/INF1207...
You may also want to review IRS Pub 463 to understand your options. https://www.irs.gov/pub/irs-pdf/p463.pdf
May 31, 2019
6:44 PM