You'll need to sign in or create an account to connect with an expert.
Yes, if the vehicle qualifies, you must also take actual expenses when claiming Section 179. It must be in the first year the vehicle is placed into service. Also, if you ever want to claim the Standard Mileage rate, that must be claimed in the first year the vehicle is placed into service. You cannot claim Section 179 and the Standard Mileage rate.
Yes, if the vehicle qualifies, you must also take actual expenses when claiming Section 179. It must be in the first year the vehicle is placed into service. Also, if you ever want to claim the Standard Mileage rate, that must be claimed in the first year the vehicle is placed into service. You cannot claim Section 179 and the Standard Mileage rate.
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
NS1
Level 3
NameForYou
Level 2
vp18276shm_fh
Level 2
stevenkyle
New Member
grids
Level 2
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.