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Andrew Schwartz CPA
Mar 3, 2004 - 6:08AM
Re: What to do when you stop using your vehicle that you had previously used for business?

If you've been claiming your auto deduction based on the standard mileage rates, you won't need to report the fact that you took the car off the road.

If you've been basing your deduction on the actual expenses incurred, and have claimed that you used your auto more than 50% for business, and have claimed accelerated depreciation, then you will have to report that you no longer use the car more than 50% for business. If this is the case, good luck!

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Return to Website  > Index  > General Tax Issues  > Original MDTAXES Forum  > Re: What to do when you stop using yo...