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LLC car lease

If I lease a car under my LLC how can I note that on my taxes?

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1 Reply
PatriciaV
Expert Alumni

LLC car lease

Yes, you can report expenses for a leased vehicle on your LLC tax return. Most of the rules are the same as if you owned the vehicle. 

 

You'll find this topic in TurboTax Business under Federal Taxes >> Deductions >> Auto and Truck Expenses. 

 

If you're reporting a Single-Member LLC on Schedule C of your personal 1040 tax return, the topic appears under Business Expenses.

 

See also: IRS Pub 463 Leasing a Car

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