Miles or Actual Expenses

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  • americantax
    Junior Member
    • Feb 2015
    • 6
    #1

    Miles or Actual Expenses

    I wanted to confirm if the tax payer opts for the Miles that we can also depreciate the vehicle. The tax payer is a Realtor and only has one car. Thank you.
    Tags: None
    • Roland Slugg
      Senior Member
      • Aug 2006
      • 1860
      #2
      No. It's one or the other. In fact approximately one-third of the SMR includes a depreciation factor.
      Roland Slugg
      "I do what I can."

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        • americantax
          Junior Member
          • Feb 2015
          • 6
          #3
          Originally posted by Roland Slugg
          No. It's one or the other. In fact approximately one-third of the SMR includes a depreciation factor.
          Thank you, I was looking at a 2013 tax return and they had the miles and the depreciation, that's why I wanted to confirm.

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