Can a client charge standard mileage in current year for rental property on Schedule E? Last year the client had the business income and charged the actual auto expenses so not sure for currnet year can client take the standard mileage?
It depends on whether standard mileage or actual mileage was taken in the first year the car was placed in service and whether car is leased or owned and what kind of depreciation has been taken. See publication 463 page 16.
Thanks Sweetpea40, actually no depreciation has been taken last year. Only the gas, toll and parking expenses have been charged. Does it make any difference?
Follow-up to sweetpea40's last question...was last year the first year placed in service?
