Question

I am filing Schedule C as self-employed contractor. Can I deduct a lid that I purchased for my truck as tools, since it is used to secure my tools? Or is it vehicle exp?

Forum|Forum|7 years ago
June 1, 2019
1 reply
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I purchased a Ram 1500 at the end of 2017 that I started using for my construction business in 2018. I use it about 85% for business, about 15% for personal use. I bought a lid for the bed in 2018 that cost almost $1,000. Does this have to be categorized as actual vehicle expense? Or, since I would not have purchased it if I were not a contractor, can I deduct it as a tool, since it is used to secure the tools for my business, like a tool box?

TurboTax Self Employed Online

J

JulieR

You don't have to report this under vehicle expenses. As you said, it is more like a toolbox. Since your vehicle's business use is 85%, apply the same business use percentage to the lid.