James Grebe writes: > Have any of you who have a vehicle that is soley (100%), therefore fully >deductable seen the question on this years tax return. It is on the back >page of form 4562 Depreciation and Amortization. Part V line 32 and >states, > "Was the vehicle available for personal use during off-duty hours? May I >ask what is the difference. What does that have to do with anything. >line 35 already asks if there is another vehicle you use for personal use. > > These are not new questions. They are used to help determine the believability (audit potential) of your deduction for vehicle expenses. If you have a vehicle that is used for both personal and business purposes, you are supposed to keep a mileage log to document your deduction. If you answer that your vehicle was both "available for personal use during off-duty hours" and that you do NOT have "another vehicle you use for personal use" and you claim 100% business use of a vehicle, then you are really going to fail the reasonableness check. Get it? I hope I've been some help, but if you need a pro please see my previous post... Pat Wilbur (former tax accountant) Fort Worth, TX "I worked hard to get where I am. Where am I?"
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