Vanessa A
Expert Alumni

Deductions & credits

If you only used your car for Lyft for December and drove it 40% of the time for Lyft and 60% of the time for other reasons, then you would take your annual premium divide that by 12 then multiply that by 40%.

 

Example.  Your premium is $1,200/year.  !,200/12= 100/month.  $100x 40%= $40.  Your insurance deduction, if you are using actual expenses, would be $40. 

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