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- Can we do both depreciation and mileage on the1065 ?
Can we do both depreciation and mileage on the1065 ?
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jerjev58
Level 3
05-05-2023
08:08 PM
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jerjev58
Level 3
05-05-2023
08:15 PM
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Thank you very much
qbteachmt
Level 15
05-09-2023
11:55 AM
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From the internet:
"What expenses are included in mileage rate?
Include gas, oil, repairs, tires, insurance, registration fees, licenses, and depreciation (or lease payments) attributable to the portion of the total miles driven that are business miles."
Topic No. 510, Business Use of Car | Internal Revenue Service
https://www.irs.gov/taxtopics/tc510
Of course, it also depends on who owns this vehicle and the type of vehicle.
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