qbteachmt
Level 15
09-17-2024
01:58 PM
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When using the mileage rate, even if the depreciation component would result in the vehicle basis being below $0, you don't reduce the mileage rate for that depreciation component.
Real world: you're allowed to drive an old car forever and keep taking the full mileage rate every year.
You also could have edited your prior posting or simply updated it with the text here. I will flag the original as a duplicate.
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Don't yell at us; we're volunteers
Don't yell at us; we're volunteers