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Depreciation & Recapture

Question: On what form and line do I deduct the standard mileage rate for my business travel, and do I also need to figure depreciation of the vehicle?


Many taxpayers find using the standard mileage rate an easier way to expense their vehicle. You cannot depreciate the vehicle if you use the standard mileage rate. Instead of the standard mileage rate, you can use the actual expense method. If you use this method, you need to figure depreciation for the vehicle.

You can claim business use of an automobile on:

Additional Information:

Category: Sale or Trade of Business, Depreciation, Rentals
Subcategory: Depreciation & Recapture

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The OMB number for this study is 1545-1432.
If you have any comments regarding this study, please write to:
IRS, Tax Products Coordinating Committee
1111 Constitution Avenue NW
Washington, DC 20224