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Level 2
October 17, 2020
Question

Heavy Duty Commercial Truck GVW 26000

Hello I have a question, we are a new business and we are filing our taxes for 2019. We have several trucks we lease greater than 30 days. Wanted to know how to write of the itemize expenses in Turbo tax Business 2019.

 

Such as:

Lease Payments

Gas

insurance

Is it a lump sum or breakdown for every truck?

 

Thanks

6 replies

October 17, 2020

each expense can be totaled and entered as a separate item.  no need to list each expense for each truck.  even something like gas can be totaled for all vehicles to the extent it's business related. 

corareneAuthor
Level 2
October 17, 2020

Is there a particular spot to put leased payments?

Critter-3
Level 15
October 17, 2020

Rents ... 

 

corareneAuthor
Level 2
October 22, 2020

The example you showed is a schedule C, I am using form 1120