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Question

Does car insurance count as business insurance, therefore allowing it to be deducted if I use my car for business ?

Forum|Forum|3 years ago
January 27, 2023
2 replies
0 views

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TurboTax Live Self Employed

If you run a business, as opposed to being an employee, you can deduct the business portion of car insurance based on the percentage of time you use the vehicle for business versus personal use. However, you can only do this if you use that actual method of deducting your vehicle expenses as opposed to the standard mileage method.

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car insurance should be entered in the vehicle expense section if you use actual expenses otherwise don't bother entering it at all. it does not go on the line in Schedule C for insurance.