turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

I have multiple businesses but only one vehicle. do I answer the questions for the vehicle for the second and third business the same as for the first?

 
Connect with an expert
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

6 Replies
PatriciaV
Expert Alumni

I have multiple businesses but only one vehicle. do I answer the questions for the vehicle for the second and third business the same as for the first?

Yes, you would enter the same vehicle for each business. Your total mileage & commuting miles (or beginning and ending odometer readings) would be the same. However, you need to report only the mileage specific to each business. The total business miles would be the sum of your entries for each business.

See red box on screenshot below.

TTO-BizVehicleMileage.jpg

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

I have multiple businesses but only one vehicle. do I answer the questions for the vehicle for the second and third business the same as for the first?

how 

I have multiple businesses but only one vehicle. do I answer the questions for the vehicle for the second and third business the same as for the first?

where and how

 

PatriciaV
Expert Alumni

I have multiple businesses but only one vehicle. do I answer the questions for the vehicle for the second and third business the same as for the first?

Business Vehicles are reported under Expenses >> Vehicle for your business.

 

The easiest way to find this section in TurboTax is to search on "business expenses" and click the "jump to" link in the drop-down list, which will take you to list of business in your return. Start/Edit the related business then scroll down to the Vehicle section to enter or edit your vehicle information.

 

See also: Where do I enter my self-employment business expenses, like home office, vehicle mileage, and suppli...

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

I have multiple businesses but only one vehicle. do I answer the questions for the vehicle for the second and third business the same as for the first?

and if I wanted to use the actual expenses method for the same vehicle for each business - would I enter the same "total" expenses for Gas , Oil, Repairs etc in both places, while adding the vehicle for each business?

AnnetteB6
Expert Alumni

I have multiple businesses but only one vehicle. do I answer the questions for the vehicle for the second and third business the same as for the first?

Yes.  Then TurboTax will prorate the total expenses claimed by the percentage of business use of the vehicle for each business.  The percentage of business use will be determined by the total mileage driven for the year and the number of business miles driven for each business.  

 

@diablovox 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies