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Itemized Deductions Schedule-A


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Old 02-04-2009, 10:50 PM
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Smile Vehicle Deduction

Can you take the Mileage deduction and also write off the purchase price of the Vehicle. I bought it at the auction in 2007 for my business and drove it off the lot after paying $2,985.13, but didn't write it off on last years return.

If so I would have to file an Amend.

Also the $2,985.13 cost was the winning bid price plus the fees and tax. If the Purchades price is deductible, do I deduct the winning bid price and the fees and tax? The winning bid was $2,300.00 and the rest was fees and tax.

Whats deductible and whats not anybody know?



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Old 02-04-2009, 10:53 PM
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Please refer to my previous answer! You can only take the mileage method or the actual method! Thus, there is no need to amend your tax return.

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