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If you always took the standard mileage deduction, then there was no depreciation deducted. Therefore, there is no depreciation to recapture. The standard mileage deduction simplifies recordkeeping.
Even if I deducted the allowable auto loan interest?
Yes. Auto loan interest is a separate deduction from vehicle depreciation. You can't depreciate if you use the standard mileage rate, therefore, there is no deprecation to recapture.
TurboTax is telling me, in the Calculate Depreciation Equivalent part, to "Enter the depreciation equivalent of your standard mileage deduction for the years before 2021 (we'll compute the 2021 amount for you.) When I click Learn More, it says, "To determine the amount to enter for depreciation, multiply your business mileage for each year that you used the standard mileage rate by the amounts below." And it gives me a table to use to calculate that depreciation.
Isn't this saying that part of the standard mileage deduction was depreciation?
A portion of the standard mileage rate includes depreciation. To determine the amount of depreciation to enter you multiply the mileage for the year by the depreciation amount for the year. You will do this for each year and add the total as the Depreciation equivalent.
For example, if you had 1,000 miles in 2020 your depreciation would be $260. (.26 x 1000 = 260)
Ref: IRS Pub 463 https://Disposition of a Car
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