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Eligibility to claim Section 179 Deduction and standard mileage or actual cost deduction for a newly aquired car.
I will be purchasing a used car for business use before the end of this year. To enable myself to claim either standard or actual cost rate deduction in future years, I need to claim standard mileage rate this first year correct? Does this disqualify me from a Standard 179 Deduction however, if I claim standard mileage rate?
‎August 6, 2024
7:09 AM