Husband owns his own business. We bought a van last year after totaling the first one out. Used for personal use maybe 5%. Personal loan not business where does it fall

[leanne-etter]

Can this be counted as a business expense?

[IreneS · Accepted solution]

You can enter the van as a business asset. 

If you are using TurboTax Self-Employed, enter the auto expenses on your Schedule C using these steps:

1. Click on the Business tab > Continue > I'll choose what to work on
2. On the Let’s gather your business info screen, in the Business Income and Expenses section, click the Start/Update button.  
3. If you have already started adding information about your business, you will see the Here's the business info we have so far screen.  Click on the Edit box next to the business.  
4. If you haven't already started adding business information, continue through the screens to enter the needed information.
5. You will now be on the Your [XX] Business screen.  In the Business Expenses section, click on the Start/Update box next to Business Vehicle Expense. 
6. If you haven't yet entered any vehicle information, just continue through the screens, entering the requested information.
7. If you have previously entered vehicle information, you will see the screen, Vehicle Summary.  To edit information on a vehicle already entered, click on the Edit button next to the vehicle name.  [You can also delete this vehicle by clicking on the "trashcan" icon.]  

[Edited | 4/15/2020 | 7:25am PDT]

[leanne-etter]

Thank you