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Business & farm
No, you can't double-dip. All vehicle expenses are reported in the Business Vehicle Use section of the program. Vehicular depreciation is handle in an entirely different manner than depreciation on other business assets. How it's handled depends on how you elect to claim your vehicle expenses too. Be it the actual expense method if you qualify, or the per-mile deduction. Then there's also the possibility the vehicle may qualify for other deductions and credits, depending on the type of vehicle. So all of that is handled in the Business Vehicle Use section.
‎October 3, 2019
6:50 AM