Question

I bought a vehicle for work can I deduct it

Forum|Forum|7 years ago
June 3, 2019
1 reply
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I purchased a car to use for my uber partner job can I claim the cost as business expense

TurboTax Self Employed iOS

V

viktoriyab11

Employee

There are two ways to take a deduction for the business use of your car:

Deduct the actual expenses of operating the vehicle for business, including gas, oil, repairs, insurance, maintenance, and depreciation or lease payments.
Take the standard IRS mileage deduction. As of 2017, the rate is 53.5 cents per mile driven for business use.

If you use your car for both ride-sharing and personal transportation, you can deduct only the portion of your expenses that apply to the business use.

Where do I enter my Uber or Lyft expenses? https://ttlc.intuit.com/replies/5370677

S

sconedogger

But the question was whether one can write off the PURCHASE price of the vehicle (different from operating cost) as a business expense. And that's my question as well. Does anyone have the answer?