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TF99
Level 1

Using vehicle for 2 businesses: started using for 1st biz in 2018; for 2nd biz in 2023. What "started using for biz" date to enter for 2nd biz's vehicle expense/deprec?

I'm trying to expense a single vehicle for 2 separate business that were started years apart. I've already been expensing the vehicle for the 1st business on taxes. Do I use the exact same date for "When did you place your vehicle in service for business purposes" for BOTH business, specifically, do I use the 2018 "vehicle use start date" as the "vehicle start date" for the 2nd business which began in 2023?
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PatriciaV
Expert Alumni

Using vehicle for 2 businesses: started using for 1st biz in 2018; for 2nd biz in 2023. What "started using for biz" date to enter for 2nd biz's vehicle expense/deprec?

No, for the second business, enter the date you started using the vehicle for that business. It doesn't matter that you used/are using it for another business before that date. Although you'll enter the same total mileage for both businesses, be sure you enter only the miles you drove for the specific business when working on each business.

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