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Article Date:
November 2016


Word Count:
125

 

 

Q&A: IRS Allows Switch from IRS Mileage Rate to Actual Expenses


Question

 

The last time I checked, if you use the actual expenses for your new-car expense deductions rather than the standard mileage rates, you must use the actual expense until you sell the car, trade it, or remove it from business service.

 

But if you use the standard mileage rate for year 1, then you have the option to switch to actual expenses in subsequent years.

 

My question is: Have the rules changed?

 

Answer

 

No, the rules remain the same. Your comments above are correct. ... Log in to view full article.

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