11Buster
Level 4
09-17-2024
01:30 PM
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Does anyone know what is meant by IRS Pub 463 stating, in essence, one can continue to use standard mileage rate on a vehicle that is fully depreciated (after having using standard method in the first year and thus being allowed to switch back and forth between actual and standard in future years AND not having to reduce basis (below $0) by the depreciation component of the standard rate (post depreciation period) , when asset sold?
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