Skip to main content
June 1, 2019
Solved

Can I depreciate my business car if my employer reimburses mileage?

  • June 1, 2019
  • 1 reply
  • 0 views
I bought a SUV over 6k pounds in 2016 for split business and personal use. I would like to depreciate my SUV, but can I still do that if my employer reimburses .55 cents a mile?
Best answer by RyanH2

Yes, if the 55 cents per mile does not exceed the depreciation, you can claim it. You cannot claim the mileage, as it appears they are reimbursing you at the standard mileage rate. However any other expense that is not reimbursed such as depreciation, maintenance/repairs, tires, etc. can be claimed.

Use the steps below to enter your job-related vehicle expenses.

1. Select "Federal Taxes" at the top of the page

2. Select the "Deductions & Credits" sub-tab

3. Scroll down to "Employment Expenses" and select "Show More"

4. Select "Start" next to "Job Expenses for W-2 Income"

5. Select "Edit" next to your occupation(Or enter it when asked)

6. Continue forward through the screens answering the questions to enter your vehicle information and to enter mileage

7. After entering your mileage you should arrive to a screen asking "Do You Want to Enter Your Actual Expenses?", answer "Yes". On the next page enter your various expenses

Job-related Expenses





1 reply

RyanH2Answer
Employee
June 1, 2019

Yes, if the 55 cents per mile does not exceed the depreciation, you can claim it. You cannot claim the mileage, as it appears they are reimbursing you at the standard mileage rate. However any other expense that is not reimbursed such as depreciation, maintenance/repairs, tires, etc. can be claimed.

Use the steps below to enter your job-related vehicle expenses.

1. Select "Federal Taxes" at the top of the page

2. Select the "Deductions & Credits" sub-tab

3. Scroll down to "Employment Expenses" and select "Show More"

4. Select "Start" next to "Job Expenses for W-2 Income"

5. Select "Edit" next to your occupation(Or enter it when asked)

6. Continue forward through the screens answering the questions to enter your vehicle information and to enter mileage

7. After entering your mileage you should arrive to a screen asking "Do You Want to Enter Your Actual Expenses?", answer "Yes". On the next page enter your various expenses

Job-related Expenses





June 1, 2019
How do I know if they are reimbursing deprecation ? Can I just include depreciation or do I need to subtract the reimbursement monies out?