Can you take the Mileage deduction and also write off the purchase price of the Vehicle. I bought it at the auction in 2007 for my business and drove it off the lot after paying $2,985.13, but didn't write it off on last years return.

If so I would have to file an Amend.

Also the $2,985.13 cost was the winning bid price plus the fees and tax. If the Purchades price is deductible, do I deduct the winning bid price and the fees and tax? The winning bid was $2,300.00 and the rest was fees and tax.

Whats deductible and whats not anybody know?

Please refer to my previous answer! You can only take the mileage method or the actual method! Thus, there is no need to amend your tax return.

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