
Mileage Rate
11.1 Sale or Trade of Business, Depreciation, Rentals: Depreciation & Recapture
What form and line do I deduct the standard mileage rate for my business travel and do I need to figure depreciation of the vehicle, too?
A Sole Proprietor's business use of a car or truck is claimed on line 9 of Form 1040, Schedule C (PDF), Schedule C, Profit or Loss from Business or, if eligible, line 2 of Form 1040, Schedule C-EZ (PDF), Net Profit from Business. You may use either the actual expense method in calculating your car or truck expense or, if eligible, the standard mileage rate. Depreciation expense is already included in this standard mileage rate. Depreciation is only calculated as a separate expense when using the actual expense method.
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