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Level 2
posted Apr 1, 2025 12:14:00 PM

What should I use for date placed in service? vehicle expense?

I know the official answer is when I started using the vehicle for business and as is stated here: https://ttlc.intuit.com/community/tax-credits-deductions/discussion/what-does-date-placed-in-service-mean-vehicle-expense/01/682493#M89734

 

However, I did not know I was using it for business or did not know I could deduct it so I never kept any records.

 

So again what date should I use. A random date when I may have started using it long ago, or the more recent date when I started keeping mileage and expense records as a proper business expense.

 

The second one makes more sense to me, but I would like know the proper way to do it. Thank you.

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1 Best answer
Expert Alumni
Apr 1, 2025 12:20:43 PM

It would be better to use the date when you started keeping mileage and expense records as this would be "official" and you have records to back up your claims.  

2 Replies
Expert Alumni
Apr 1, 2025 12:20:43 PM

It would be better to use the date when you started keeping mileage and expense records as this would be "official" and you have records to back up your claims.  

Level 2
Apr 1, 2025 3:09:51 PM

Thank you. That is what I thought as well, I just wanted to be sure. Thanks again.