Tax Year Prior to 2020: I have a truck that I use for both business and personal use. Do I deduct the Vehicle License Tax from the business use side or the personal side, or does it matter?
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Tax Year Prior to 2020: I have a truck that I use for both business and personal use. Do I deduct the Vehicle License Tax from the business use side or the personal side, or does it matter?
Tax Year Prior to 2020: I have a truck that I use for both business and personal use. Do I deduct the Vehicle License Tax from the business use side or the personal side, or does it matter?
You will deduct it on the business side if you use the Actual Expense method and the personal person will transfer to the Schedule A. However, if you take the Standard Mileage Rate, then enter it only in the Personal side of Deductions and Credits.
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