Skip to main content
February 4, 2021
Question

Musician part time. My husband did not have any dance obs because od covid.

  • February 4, 2021
  • 1 reply
  • 0 views

How do I handle his busisness catagory?  They file wants informationonthe truck he drove. He uses this truck for personaal use also. every day

    1 reply

    February 4, 2021

    business can write off the expenses of a business-owned vehicle and take a depreciation deduction to write down the value of the vehicle. Only the portion of the vehicle use that is for business purposes can be counted when determining tax deductions.

     

    Go to the Schedule 
    C business of the return and enter the vehicle expenses.  
    Follow along and answer the questions accurately then you will see how to show the personal use and business expense deductions.

     

    Where would I find my schedule c?

    1. After signing into TurboTax, select "Take Me to My Return"
    2. Type "Schedule C" in the search field at the top right hand of the screen.
    3. Select "Jump To Schedule C" and you will be brought to the section of TurboTax where you can enter or have entered your business income and expense information.

    To enter vehicle expenses on Schedule C:

    1. Select "Business" at the top of the screen.
    2. Choose "Continue", then "I'll choose what I work on"
    3. Select "Start" next to "Business Income and Expenses"
    4. Select "Edit" next to your business name.
    5. Scroll down to Business Expenses.
    6. Now select "Start" next to "Business Vehicle Expense"
    **Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"