Depreciated my new vehicle last year. If I depreciate (for years 2-5) & take mileage it appears on schedule C twice, is this right? 100% Business vehicle.

cgolenor81 · ‎June 4, 2019

MinhT · ‎June 4, 2019

For a business vehicle, you cannot use the standard mileage AND deduct depreciation.

You have to choose between the standard mileage rate and the actual expenses method. You can only claim depreciation if you choose the actual expenses method.

Please read this TurboTax article for more information:

https://turbotax.intuit.com/tax-tips/small-business-taxes/business-use-of-vehicles/L6hi0zzzh

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View solution in original post

MinhT · ‎June 4, 2019

For a business vehicle, you cannot use the standard mileage AND deduct depreciation.

You have to choose between the standard mileage rate and the actual expenses method. You can only claim depreciation if you choose the actual expenses method.

Please read this TurboTax article for more information:

https://turbotax.intuit.com/tax-tips/small-business-taxes/business-use-of-vehicles/L6hi0zzzh

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

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Depreciated my new vehicle last year. If I depreciate (for years 2-5) & take mileage it appears on schedule C twice, is this right? 100% Business vehicle.