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Level 2
February 3, 2022
Question

Car depreciation:

  • February 3, 2022
  • 9 replies
  • 54 views

Is it possible to take the mileage for car expenses and at the same time depreciate the car for an uber or lyft driver?

This topic has been closed for replies.

9 replies

sjrcpa
Level 15
February 3, 2022

No. Actual expenses or cents per mile.

Depreciation is included in the cents per mile rate.

The more I know the more I don’t know.
Level 10
February 3, 2022

You can probably make the software do it, but it would be a mistake on a preparer's part to be a party to filing a return that way.

Ptpllc1Author
Level 2
February 3, 2022

Any IRS reference that it is not allowed?

Level 10
February 3, 2022

On second though - I removed my comment. Good luck.

 

IRonMaN
Level 15
February 3, 2022

It's called double dipping and the IRS isn't an ice cream shop so it can't be done.

Slava Ukraini!