This is the second year in a row I've been hung up on this. Perhaps because this is the second time I've used TurboTax. It asks the specific question "Did you have any vehicle mileage or expense for your rental property". If I answer yes, it leads me down a road of taking depreciation etc. It's my understanding that you can't take both depreciation and the standard mileage deduction. In the past, I listed the mileage deduction as a vehicle expense on my schedule E figured by multiplying the amount of business miles x the standard mileage rate. I didn't claim the small percentage of the interest on the car loan or any depreciation. Do I lie to the software and say no so that I can continue to just list it on my schedule E? Perhaps I'm naive, but I would assume the software is too well thought out to steer the millions who own rental properties in the wrong direction. MD
- posted
17 years ago