Hi. I had a car that I used in the past for business from 2014 to 2017 and used the depeciation method. Startin in 2018, I used another car that I have and used the standard deduction method. In 2021, I went back to use the first car since navigation system was malfunctioning. Could I use the standard mileage method on it now?
Yes you can use the std mileage rate as long as the method of depreciation you used for the vehicle in 2014 - 2017 was straight line over its useful life. If you used any other method (e.g., MACRS, special depreciation allowance or bonus depreciation, Sec. 179 deduction) then you can not use the std mileage rate for that same vehicle.
Alan, thanks a lot!
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