Turo rental car and mileage deduction

Forum|Forum|2 years ago
June 20, 2023
2 replies
0 views

I have a few cars I rent on Turo. I am under the impression that i can not deduct the mileage that renters drive. Is that correct? I always assumed that ibn order to claim the mileage I would need to actually drive the car vs. renters driving the miles.

Not A Product Question

Critter-3

If you have a "fleet" of cars you rent out to others to drive then you MUST use the actual expenses method and not the standard mileage rate.

timebomb72Author

That was my assumption. I do not drive them personally. They are only rentals.

Critter-3

Since you don't drive any of them yourself then they are not considered a personal vehicle ... they are assets you rent out so you must use the actual expenses option even if you have less than the 5 mentioned ... https://www.irs.gov/publications/p463

Mike9241

how many different rental vehicles?

timebomb72Author

I've had up to 5 but does the number of cars matter if I only use them as rentals? I don't drive them personally. They are really only rentals that customers rent and drive. I didn't think there was a way for me to deduct the federal .625 per mile mileage deduction if I (or an employee) was not doing any of the driving. Am I wrong about that?