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Can we do both depreciation and mileage on the1065 ?

jerjev58
Level 3
 
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3 Comments 3
abctax55
Level 15

No

HumanKind... Be Both
jerjev58
Level 3

Thank you very much

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qbteachmt
Level 15
From the internet:
"What expenses are included in mileage rate?
Include gas, oil, repairs, tires, insurance, registration fees, licenses, and depreciation (or lease payments) attributable to the portion of the total miles driven that are business miles."
 
Topic No. 510, Business Use of Car | Internal Revenue Service

https://www.irs.gov/taxtopics/tc510

 

Of course, it also depends on who owns this vehicle and the type of vehicle.

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