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June 6, 2019
Question

If I account for the mileage on my vehicle for my business, I cannot then claim my vehicle insurance as a separate deduction? Is that correct?

  • June 6, 2019
  • 3 replies
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    3 replies

    Lisa995
    Employee
    June 6, 2019
    That is correct.
    ♪♫•*¨*•.¸¸♥Lisa♥ ¸¸.•*¨*•♫♪
    amdecl6Author
    June 6, 2019
    Thank you!
    Employee
    June 6, 2019

    The standard mileage rate includes allowances for gas, repairs and maintenance, insurance, and depreciation.  The only thing you can add is parking fees and tolls. 

    You can include insurance if you use the actual expense method, but it is more complicated and the mileage rate method is usually more lucrative for more people.