# Depreciate my business car on form 4562?

**URL:** <https://discussion.mainstreetbusinesspodcast.com/t/depreciate-my-business-car-on-form-4562/435>\
**Category:** Legal Questions\
**Created:** [April 4, 2024, 7:12am UTC](https://discussion.mainstreetbusinesspodcast.com/t/depreciate-my-business-car-on-form-4562/435 "2024-04-04T07:12:58Z")\
**Posts on this page:** 1\
**Page:** 1

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**Author:** ![Droponbye](https://avatars.discourse-cdn.com/v4/letter/d/cab0a1/32.png) [@Droponbye](https://discussion.mainstreetbusinesspodcast.com/u/Droponbye)\
**Post date:** [April 4, 2024, 7:12am UTC](https://discussion.mainstreetbusinesspodcast.com/t/depreciate-my-business-car-on-form-4562/435/1 "2024-04-04T07:12:58Z")

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In 2023 March I bought a new Toyota Camry in My LLC name. My business is a side hustle and I have another full time W-2 earner Job. I have 3 cars all under 6000lbs. I used the Toyota for 60% of the 6300 ,miles driven. My side business only collected about $1150 , mainly because a large client has not paid and is in collections. My question, I want to take the 1 year depreciation +Bonus depreciation, and not the mileage using form 4562. Lets say max is $20200 x 60% use = 12120$ - my profit of $1150 not even adding any other expensed items =$10970 deduction. I’m filing 1040 married jointly can I somehow deduct the $10970 off the Form 1040, to reduce my W-2 taxable income?

Thanks Armond.