CAUTION This election can’t be made by tax shelters, farming
syndicates, partnerships, or corporations required to use the
accrual method of accounting under section 447 or 448(a)(3).
- Add to this amount your parking fees and tolls, and enter the
total on line 10.
Don’t deduct depreciation, rent or lease payments, or your
actual operating expenses.
If you deduct actual expenses:
Include on line 10 the business portion of expenses for
gasoline, oil, repairs, insurance, license plates, etc.; and
Show depreciation on line 14 and rent or lease payments on
line 24a.
If you claim any car or truck expenses (actual or the standard
mileage rate), you must provide the information requested on
Form 4562, Part V. Be sure to attach Form 4562 to your return.
For details, see chapter 4 of Pub. 463.
If you use your vehicle for both business and personal
