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pasupathyk
New Member

Can i deduct car payment, depreciation and gas for personal income?

 
1 Reply
KarenL2
Level 5

Can i deduct car payment, depreciation and gas for personal income?

Unfortunately, no.  Your car payment is never deductible.  However, you can deduct actual expenses (depreciation, gas, repairs, etc.) or the Standard Mileage rate for a business you own.  Not for "personal" income.

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