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Level 2
posted Aug 28, 2019 9:15:26 AM

What is the most advantageous way to write off a vehicle bought for business at the end of the year? I prefer standard deduction but low mileage, only used one month

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1 Replies
Level 15
Aug 28, 2019 9:28:24 AM

I would do the standard deduction in the year it is placed in service to preserve the right to switch to the actual expenses option ... if you start with actual expenses you are stuck with that method as long as you still have that vehicle.