Deductions & credits

No, for tax purposes, you don't own the vehicle.

However, you can deduct actual out of pocket vehicle expenses, such as gas, oil, tires, maintenance and repairs prorated for business miles.

To report your vehicle expense in TurboTax:

Type in business expenses in the search box, top right of your screen

Click on first category Jump to business expenses

You will arrive at the Here's the business info we have so far page

Click Edit

  Arrive at the Your Business page

Scroll down to the Business Expenses category

Business Vehicle Expense, second category down