TaxGuyBill
Level 15
03-27-2024
03:30 PM
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@NkernCPA_SC wrote:
No standard or actual expenses were taken as they were immaterial at that point.
Huh? They didn't deduct fuel, insurance, repairs and maintenance?
Because they did not use the Standard Mileage Rate in the first year, they are not allowed to ever use the Standard Mileage Rate for that vehicle.