Originally Posted by Duekster
If you take milage, then 22 cents of that is depriciation.
If the truck last 200K miles that is $44K
Where is the breaking point with the time value of money.
How many miles per year do you need to drive to make it worth not taking depreciation at all and using milage.
I would have to run some numbers but not sure it is worth it to take milage over depreciation and actual expenses on a truck worth worth over 30K.
You can still use the straight line method of depreciation and claim mileage. And I'm not sure what you mean with the 22 cents. The mileage rate after June 30, 2011 is 55.5 cents per mile. There are a few other rules to claiming both straight line depreciation and mileage. See IRS publication below for more info.