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Get your taxes done using TurboTax
Yes, if the gap insurance and car warranty plan are for a vehicle that you use in your business. However, you can only deduct the cost up to the percentage of vehicle business use. For example, if you use the vehicle 30% for business and 70% personal then you can only deduct 30% of the gap insurance and 30% of the warranty plan.
‎June 6, 2019
3:46 AM