02-21-2005, 08:42 AM
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 Re: Lease car-standard or Actual deduction jcoggshall[at]comcast.net wrote: - quote - > I am in the 3rd year of a lease of which I chose standard
Not contradictory.> mileage for the first two years. Can I switch to actual > expenses this year? I am an employee if that matters. I have > quoted Pub 17 below, which seams to be contradictory. - quote - > "If you want to use the standard mileage rate for a car you
Looks like you're stuck.> lease, you must use it for the entire lease period." - quote - > then it says later....
Certainly true for the FIRST year.> "If you lease a car, truck, or van that you use in your > business, you can use the standard mileage rate or actual > expenses to figure your deductible car expense." << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#-1
02-15-2005, 06:28 AM
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| Lease car-standard or Actual deduction I am in the 3rd year of a lease of which I chose standard mileage for the first two years. Can I switch to actual expenses this year? I am an employee if that matters. I have quoted Pub 17 below, which seams to be contradictory. "If you want to use the standard mileage rate for a car you lease, you must use it for the entire lease period." then it says later.... "If you lease a car, truck, or van that you use in your business, you can use the standard mileage rate or actual expenses to figure your deductible car expense." << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
| Tags |
| actual, carstandard, deduction, lease |
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