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Business & farm
Just to caution you about a couple of things:
1) If you use Actual Expenses (including depreciation), you can never use the Standard Mileage Rate for that vehicle.
2) If your business percentage drops to 50% or less in future years, there may be "recapture" of the depreciation that you took in 2023.
‎April 12, 2024
1:03 PM