TaxGuyBill
Level 15
02-13-2024
11:35 AM
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@Terry53029 wrote:
The reason you can't take standard deduction if you expense the first year, is deprecation is included in the standard mileage, and you already took all of in the first year
Even if they did not take all of the depreciation in the first year, the Standard Mileage Rate would still not be allowed. That election out of MACRS is only allowed in the first year.
