Deductions & credits

For the previous vehicle, did you have any personal use?  If so, you can NOT report it under the vehicle section.  You need to report it under the "Sale of Business Property" section.  And you need to MANUALLY calculate the business percentage.  So if it was 95% business over the entire time you owned the vehicle, you would multiply your cost and your sales price by 95%.

 

Is your new vehicle going to be used that much for Uber?  If so, you probably DON'T want to use Section 179.  The Standard Mileage Rate is usually much better for vehicles that have a very large amount of business miles.