jeffmcpa2010
Level 11

Huh?  Sorry, but that is completely wrong.

Bill, Mind explaining how you think that is wrong?

If you are using the Standard Mileage Rate to cover all vehicle expenses to claim some business usage of a personal vehicle, does not change the character of the vehicle from personal, and you are not allowed to claim losses on the sale of personal assets.

I (possibly incorrectly)made the presumption that the usage is in a personal business, Schedule C, E or F, since Corporations and Partnerships may not use the standard mileage rate to compute the vehicle expenses for company-owned vehicles.

 

 

 

0 Cheers