https://ttlc.intuit.com/community/tax-credits-deductions/discussion/can-i-deduct-my-vehicle-loan-payments-along-with-the-standard-mileage-deduction/01/111125#M14163 New car loan<BR />used for business Sat, 01 Jun 2019 05:03:44 GMT ceblake22 2019-06-01T05:03:44Z https://ttlc.intuit.com/community/tax-credits-deductions/discussion/can-i-deduct-my-vehicle-loan-payments-along-with-the-standard-mileage-deduction/01/111125#M14163 New car loan<BR />used for business Sat, 01 Jun 2019 05:03:44 GMT https://ttlc.intuit.com/community/tax-credits-deductions/discussion/can-i-deduct-my-vehicle-loan-payments-along-with-the-standard-mileage-deduction/01/111125#M14163 ceblake22 2019-06-01T05:03:44Z https://ttlc.intuit.com/community/tax-credits-deductions/discussion/you-cannot-deduct-loan-vehicle-payments-but-you-can-ded/01/111135#M14164 <P>You cannot deduct loan vehicle payments, but, you can <B>deduct 53.5 cents per mile (2017)</B> <B>or actual vehicle expenses </B>(ie. gasoline. oil, tires, maintenance)&nbsp;prorated for business miles.</P><P></P><P>If you claim the standard mileage rate in year one for this vehicle, you will have the option of deducting the standard rate or actual expenses in subsequent years. If you claim actual vehicle expenses in year one, you must choose actual expenses in every subsequent year for that auto.</P><P>You can also deduct vehicle loan interest no matter which method you choose.</P> Sat, 01 Jun 2019 05:03:46 GMT https://ttlc.intuit.com/community/tax-credits-deductions/discussion/you-cannot-deduct-loan-vehicle-payments-but-you-can-ded/01/111135#M14164 Marketstar 2019-06-01T05:03:46Z