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Business & farm
For 2021, the depreciation is 26 cents per mile when using standard mileage. If you are using actual expenses, you would use that amount. You can find depreciation schedules, Form 4562, in your tax return. For full details, see:
- Topic No. 510 Business Use of Car | Internal Revenue Service
- Topic No. 704 Depreciation | Internal Revenue Service
- Publication 946 (2020), How To Depreciate Property - Internal Revenue Service
- About Form 4562, Depreciation and Amortization (Including
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‎February 4, 2022
5:11 PM
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