After full cost of new work truck deducted, can i still deduct mileage for the year?

[ellsworth112]

can i still deduct mileage for the year after full cost of new work truck has been deducted?

[RayW7]

The IRS offers two ways of calculating the cost of using your vehicle in your business.  You have to choose which method to use.

1. The Actual Expenses method or
2. Standard Mileage method

Each method has its advantages and disadvantages, and they often produce vastly different results. Actual Expenses might produce a larger tax deduction one year, and the Standard Mileage might produce a larger deduction the next.

Note: If you want to use the standard mileage rate method, you must do so in the first year you use your car for business. In later years you can choose to switch back and forth between the methods from year to year without penalty.

-follow this link for additional information-

Business Use of Vehicles - TurboTax Tax Tips & Videos