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Business & farm
@ThomasM125 wrote:No, you can't switch from the standard mileage allowance to the actual deduction method. T
Huh? You certainly can switch to Actual Expenses. But you can only use ONE method - either the Standard Mileage Rate or the Actual Expenses.
But the tricky thing is that TurboTax does not calculate depreciation for the Standard Mileage Rate. So if you were to use the Actual Expenses, in order to depreciate the vehicle you would need to MANUALLY calculate the "prior depreciation".
‎April 2, 2020
4:53 PM