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Business & farm
Change the depreciation amount to match the basis of the car. You have a special situation. . The IRS recommends exactly your situation as how to get the best deal on a vehicle. Use it longer than can be depreciated while taking the standard mileage deduction. Great job!
You took standard mileage with the longevity of your car, you got a great deal. Depreciation allowed can't exceed the basis of the car so you had a little extra deduction with no consequences.
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March 29, 2025
8:42 AM