I use one vehicle for two rental properties (25% + 25%). I also use this vehicle for personal use (50%)
I report these two rental properties individually in terms of income, expenses and asset deprecation, etc.
I spent $500 repair and $1,000 insurance on this vehicle in 2024
How much should I report for each rental property in terms of the cost of repair and insurance?
How much should I report for each rental in terms of the price I paid to purchase this vehicle?
