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I drive a company car through my employer for my type of work. They pay for upkeep and gas as well, except for the monthly lease payments, I have to pay that every month and I do not get reimbursed. Is this deductible?
It is through a "fleet" type arrangement, I am allowed to use it for personal use up to a certain amount if desired, and I had the option to use my own car, however I would not be able to claim mileage, maintenance, etc.
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June 1, 2019
12:06 AM
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Deductions & credits
Yes, you can deduct the amount you used your truck for work. So if you use your truck 80% of the time for work, then you can deduct 80% of your lease payments and 80% any out of pocket costs you incurred for repairs/maintenance etc, but not 100% since you use it for personal use too.
June 1, 2019
12:06 AM
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Deductions & credits
I'm sorry, I meant which category under deductions does it go under? Thank you for your help!
June 1, 2019
12:06 AM