@Critter-3 said "unless the taxpayer chooses to put this on a Sch C there is no way to deduct the costs of the vehicle or the equipment/tools"
I'm not sure that's true. The income goes on line 8l of Schedule 1 and the expenses on line 24b. TurboTax provides an entry box for the expenses, in the personal property rental interview.
But, if this is just normal employee car use (as opposed to actual personal property rental), it would not be proper for the employee to claim a deduction (employee business expenses are no longer deductible) and he should leave the expenses box blank.
