Lease car-standard or Actual deduction


J

jcoggshall

I am in the 3rd year of a lease of which I chose standard
mileage for the first two years. Can I switch to actual
expenses this year? I am an employee if that matters. I have
quoted Pub 17 below, which seams to be contradictory.

"If you want to use the standard mileage rate for a car you
lease, you must use it for the entire lease period."

then it says later....
"If you lease a car, truck, or van that you use in your
business, you can use the standard mileage rate or actual
expenses to figure your deductible car expense."
 
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D

D. Stussy

I am in the 3rd year of a lease of which I chose standard
mileage for the first two years. Can I switch to actual
expenses this year? I am an employee if that matters. I have
quoted Pub 17 below, which seams to be contradictory.
Not contradictory.
"If you want to use the standard mileage rate for a car you
lease, you must use it for the entire lease period."
Looks like you're stuck.
then it says later....
"If you lease a car, truck, or van that you use in your
business, you can use the standard mileage rate or actual
expenses to figure your deductible car expense."
Certainly true for the FIRST year.
 

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