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Business & farm
You can add the vehicle as an asset in 2022 and enter the cost of it, including the repairs, and you will get a depreciation deduction for it each year for 5 years. However, since it's cost is minimal, you may be better off using the standard mileage allowance of 56 cent per mile for the vehicle in lieu of actual expenses.
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‎April 13, 2022
5:16 PM
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