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?
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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.
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.
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