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Depreciation of Business Asset (Car) Allocation to LLC (Limo Service) and/or Contractor (Uber/Lyft) Work
If I use a car for limo service part of the time and as a contractor for Lyft and Uber how should I allocate the depreciation expense for deduction? Should I use the percentage used for business and contracting as a divisional allocation or claim the deduction 100% from one or the other? I was going to combine the business and contracting work both on personal taxes rather than seprate the business tax.
‎November 17, 2024
5:01 PM