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Can I claim depreciation, gas, repairs and maintenace on my

Customer Question
personal vehicle which is used...
Can I claim depreciation, gas, repairs and maintenace on my personal vehicle which is used for business if my employer reimburses me a portion of my mileage under an accountable plan?
Submitted: 8 years ago.Category: Tax
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Answered in 9 minutes by:
2/1/2009
Tax Professional: Merlo, Accountant replied 8 years ago
Merlo
Merlo, Accountant
Category: Tax
Satisfied Customers: 9,783
Experience: 25+ years tax consulting. Specializing in returns for US citizens living abroad
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HelloCustomer

Yes, you may take a deduction for a percentage of your actual vehicle expenses such as fuel, repairs, maintenance and depreciation, or you may choose to use the more simplified method of claiming a standard mileage allowance for the miles you drove your car for business activities. However, in either case, you must then deduct the amount that was already reimbursed by your employer.

To claim these expenses you should file Form 2106. Once you figure your deductions on Form 2106, that then transfers over to Schedule A and is part of your itemized deductions. Expenses in this category of Schedule A are limited to those which exceed 2% of your adjusted gross income. So if your adjusted gross income was $50,000, the first $1,000 of these types of expenses could not be included.

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Merlo
Merlo, Accountant
Category: Tax
Satisfied Customers: 9,783
Experience: 25+ years tax consulting. Specializing in returns for US citizens living abroad
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