abctax55
Level 15
06-20-2020
07:43 PM
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"....If you use the standard mileage rate you must stick to it for the life of the car".
The above statement is not true - using the SMR & straight line depreciation in the year the vehicle is placed in service allows one to use actual in the future for that vehicle.
Using actual expenses in the year the vehicle is placed in service means one must continue to use actual expenses for that vehicle in future years.
HumanKind... Be Both