Question

schedule C - my vehicle expenses

Forum|Forum|6 years ago
March 13, 2020
1 reply
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Schedule C

My vehicles expenses are included in the fuel costs and repairs & maintenance for all company equipment and can't be separated. If I list mileage, I'm double dipping. How can I get the depreciation deduction for the vehicles without mileage or actual expenses.

Deduction

LeonardS

You have to use either the mileage deduction or actual expense method for your vehicle expenses. If you use the mileage method the standard mileage deduction includes depreciation. If you use actual expenses, then TurboTax will calculate your depreciation based on the vehicle information you have entered. If you just want the depreciation deduction use the actual expense method and do not enter any expenses.

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