Two Schedule Cs

[laurielmorris1]

I have two separate businesses that I report on Schedule C.  I have a new truck (purchased in 2018 at $62,000) that I am using 100% for business.  I don't understand how to enter the truck on the two Schedule Cs.  Do I divide the cost in half & enter $31,000 on each Schedule C?

Any other advice is also appreciated.

[IreneS · Accepted solution]

Yes - Since you use the truck for both businesses, divide the cost of the truck by the amount of use for each business.  If it's used equally, $31k for each business.