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"I've always accounted for vehicle expenses on my schedule E. Now that I am using a schedule C for business expenses which form should I account for Vehicle expenses?"

Forum|Forum|7 years ago
June 4, 2019
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TurboTax Business Windows

Best answer by MichaelDC

You'll account for the vehicle expenses according to the type of business the vehicle for used for. If you drove for your rentals, you'll continue to use expenses the way you have in the past.

Now, in addition, if you've driven for your Schedule C business, then you'll account for the miles and expenses on the Schedule C.

If it's the same vehicle, total miles and total expenses (if using the actual expenses of gas, oil, etc.), will be the same on both forms. The only difference will be the number of miles driven for each business exclusively.

M

MichaelDCAnswer

Employee

You'll account for the vehicle expenses according to the type of business the vehicle for used for. If you drove for your rentals, you'll continue to use expenses the way you have in the past.

Now, in addition, if you've driven for your Schedule C business, then you'll account for the miles and expenses on the Schedule C.

If it's the same vehicle, total miles and total expenses (if using the actual expenses of gas, oil, etc.), will be the same on both forms. The only difference will be the number of miles driven for each business exclusively.