Retired taxpayer started a small business (Sch C) in 2008 transporting the Amish. He purchased a used van in 2008. Is he limited to actual cost method or can he take standard mileage? TTB page10-5 list useage such as car for hire ie taxi as not eligible for standard mileage methond. Any thoughts to the contrary in my situation?
Announcement
Collapse
No announcement yet.
Standar or actual ?
Collapse
Disclaimer
Collapse
This message board allows participants to freely exchange ideas and opinions on areas concerning taxes. The comments posted are the opinions of participants and not that of Tax Materials, Inc. We make no claim as to the accuracy of the information and will not be held liable for any damages caused by using such information. Tax Materials, Inc. reserves the right to delete or modify inappropriate postings.
Comment