The IRS standard mileage rate for a vehicle used for business takes the place of deducting the actual cost of all of the following except:
a. Correct. Tolls, as well as parking and interest on vehicle financing, are separately deductible, whether the standard mileage rate or the actual expense method is used to figure the deduction for business driving.
b. Incorrect. Vehicle insurance cannot be deducted separately if the standard mileage rate is used.
c. Incorrect. Depreciation for a vehicle that is owned by the sole proprietor can be claimed only if the actual expense method is used to deduct the cost of business driving.
d. Incorrect. The standard mileage rate is calculated to include registration fees; no separate deduction is allowed.