You have the option to take standard mileage or actual expenses. You can enter both and choose the option that is best for your situation. The standard is simplified and includes depreciation. You have to keep detailed records for either deduction.
If you want to use the standard mileage rate method in any tax year, you must do so in the first tax 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. Each year, you’ll want to calculate your expenses both ways, and then choose the method that yields the larger deduction and greater tax benefit to you. If you use the actual expense method in the first year, you are required to continue to use this method for that specific vehicle in future years.
In this link, you’ll find an easy-to-follow road map to choosing the best method for you, this year.
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