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standard or actual? For hire or not?

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drumbone

Guest
I am an independant contractor for a messenger company in San Antonio. I own my vehicle , a 96 compact truck , and drive 360 miles a day delivering postage and bank work. I would like to know if my truck is considered a " vehicle for hire" or can I take standard mileage deductions since I own the vehicle? I live in Texas and don't own another vehicle. Any knowledge would be much appreciated.
 


D

drumbone

Guest
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Snipes5

Senior Member
Standard mileage.

It isn't for hire if YOU are using it, and YOU own it.

You don't have depreciation to recapture if you are using standard mileage.

Snipes
 

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