A taxpayer may, on a yearly basis, deduct an amount equal to either (1) the business standard mileage rate (at 28 cents per mile for all business miles for 1992) times the number of business miles traveled or (2) the actual costs (both operating and fixed) paid or incurred by the taxpayer allocable to business miles.
"Claiming Motor Vehicle Deductions,"
Agricultural Law Digest: Vol. 3
, Article 1.
Available at: http://lib.dr.iastate.edu/aglawdigest/vol3/iss18/1