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March 8, 2021
Question

how do I list the vehicle that I deliver. I don't own or lease this vehicle. yet I have to put fuel in it to deliver.

  • March 8, 2021
  • 1 reply
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    1 reply

    KathrynG3
    March 8, 2021

    It depends. Vehicle expenses are only deductible for self-employed individuals.

     

    This deduction can use either the standard deduction or actual expenses, but the standard deduction should be used if you have supporting records.

    • The standard deduction for 2020 is 57.5 cents per mile. It will be 56 cents per mile for 2021. You must have a log tracking non-commuting business miles with a business purpose.
      •  This option is available if the standard deduction for vehicles was claimed the first year this vehicle was used for this business.
    • Actual expenses would require receipts for all expenses including gas, insurance, repair and maintenance costs only. Depreciation for a borrowed vehicle is not allowed. 

    See Can I deduct mileage? for more details.