Question

This is confusing..Was your GMC Sierra 2500HD used mainly by someone who owns more than 5% of this business or someone related to a more-than-5% owner?I own this truck.

Forum|Forum|6 years ago
February 1, 2020
1 reply
0 views

Is it asking do I as a realtor own 5% or more..or is it asking does the brokerage I work for Coldwell banker own 5% or more?

TurboTax Self Employed Online

KathrynG3

There are some specific tax rules that the question is addressing--and yes, it is confusing. It is not referring to your brokerage firm where you work.

Without being technical, the question would read in parts:

Do you own 5% or more of your business?

If yes, then was your GMC Sierra 2500HD used mainly by you or someone related to you (spouse, children, other family)?

If yes, then the truck mileage or actual expenses limits are not adjusted.

This is confusing..Was your GMC Sierra 2500HD used mainly by someone who owns more than 5% of this business or someone related to a more-than-5% owner?I own this truck.

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