Vehicle interest dedution

[Yholste]

I purchased a new vehicle (traded in my old vehicle). I use this vehicle in both of my small businesses and deduct my mileage. I have 2 schedule C's. Can I claim the interest on the vehicle loan on both schedule C's or only one?

[AmeliesUncle · Accepted solution]

Enter it on both.  The program prorates the expenses based on the business percentage for that business, so you need to enter the expenses on both.