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March 15, 2022
Question

If I have taken the standard milage deduction on my work vehicles, can I still deduct the insurance I paid on them

  • March 15, 2022
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1 reply

March 15, 2022

No, you can either take standard mileage rate or actual expenses. So if you want to deduct auto insurance, you will have to use the actual expenses method.

 

Please visit Topic No. 510 Business Use of Car for more information on Standard Mileage Rate vs Actual Expenses.