. Old home to old office: 30 miles . New home to new office: 15 miles . Old home

Question

. Old home to old office: 30 miles . New home to new office: 15 miles . Old home to new office: 58 miles Standard Mileage Rate. R, self-employed, leases her car. She elects to com deduction for car expenses using ute her e fol- the standard mileage rate. Indicate whether th lowing expenses may be deducted in addition to expenses computed using thestan- dard rate: a. Depreciation b. Interest on car loan c. Insurance d. Parking while calling on customers Parking tickets incurred while on business e. E Major overhaul g. Personal property taxes on car Tolls h.

Explanation / Answer

If she elects to compute her deduction for car expenses using the standard mileage rate then actual expenses are not allowes to deduction again which includes depreciation.

Thus actual expenses incurred are not allowed to deduct again .

So actual expenses from (a) to (h) are ineligible to claim in addition to standard mileage rate .

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