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Deductions & credits
For a business vehicle, you cannot use the standard mileage AND deduct depreciation.
You have to choose between the standard mileage rate and the actual expenses method. You can only claim depreciation if you choose the actual expenses method.
Please read this TurboTax article for more information:
https://turbotax.intuit.com/tax-tips/small-business-taxes/business-use-of-vehicles/L6hi0zzzh
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‎June 4, 2019
5:09 PM
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