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amdecl6
New Member

If I account for the mileage on my vehicle for my business, I cannot then claim my vehicle insurance as a separate deduction? Is that correct?

 
3 Replies
Lisa995
Level 12

If I account for the mileage on my vehicle for my business, I cannot then claim my vehicle insurance as a separate deduction? Is that correct?

That is correct.
♪♫•*¨*•.¸¸♥Lisa♥ ¸¸.•*¨*•♫♪
amdecl6
New Member

If I account for the mileage on my vehicle for my business, I cannot then claim my vehicle insurance as a separate deduction? Is that correct?

Thank you!
Opus 17
Level 15

If I account for the mileage on my vehicle for my business, I cannot then claim my vehicle insurance as a separate deduction? Is that correct?

The standard mileage rate includes allowances for gas, repairs and maintenance, insurance, and depreciation.  The only thing you can add is parking fees and tolls. 

You can include insurance if you use the actual expense method, but it is more complicated and the mileage rate method is usually more lucrative for more people.

*Answers are correct to the best of my ability at the time of posting but do not constitute legal or tax advice.*
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