Question

Section 179 and Actual Expense

Forum|Forum|7 years ago
June 4, 2019
1 reply
0 views

If you claim a section 179 on a business vehicle the first year can you still claim Actual Vehicle expenses in years to follow?

TurboTax Self Employed Online

N

NicoleU

Employee

Yes, however if you plan to use the standard mileage rate for a car you own, you must choose to use it in the first year the car is available for use in your business. Then, in later years, you can choose to use the standard mileage rate or actual expenses.

For more information, please click this IRS link: https://www.irs.gov/taxtopics/tc510.html