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Thread: tax deductibility of miles used for business travel?
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Old Oct 15, 2002 | 2:31 am
  #5  
pynchonesque
 
Join Date: Feb 2001
Location: bringing sexy back
Posts: 7,751
You can't deduct the value of something that you got for free. The market value is irrelevant in this case; your deduction is generally limited to the lesser of market value or cost basis.
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