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Car Expenses

Posted on 3/5/14 at 12:06 pm
Posted by Ford Frenzy
337 posts
Member since Aug 2010
6876 posts
Posted on 3/5/14 at 12:06 pm
if you use a vehicle on the job for half the year and buy a new vehicle for work midway through the year, assuming both used over 50% for business...can you use standard mileage on the first vehicle (assuming actual expenses haven't been taken in the past) and use actual expenses on the new second vehicle (i.e. section 179 depreciation on the business portion)


is the election for mileage vs actual based on a vehicle by vehicle decision?
Posted by CubsFanBudMan
Member since Jul 2008
5070 posts
Posted on 3/5/14 at 1:14 pm to
Yes, the election is on a vehicle by vehicle basis, and can be switched from mileage to actual, but not switched back.
Posted by LSUFanHouston
NOLA
Member since Jul 2009
37093 posts
Posted on 3/5/14 at 1:38 pm to
If you ever want to use mileage rules on vehicle, it must be used in the first year. Beyond that, you can choose whatever method gives you the better deduction.
Posted by Ford Frenzy
337 posts
Member since Aug 2010
6876 posts
Posted on 3/5/14 at 1:42 pm to
I think you can use mileage after the first year as long as you used straight line depreciation in prior years.
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