You must allocate the expenses, the program will not recognize that fact that the same vehicle is entered twice.
If you have two businesses and entering the vehicle twice, (once on each Schedule C) yes, also split the cost/basis 50/50. Enter "as if it is two separate vehicles"
It may be tricky, and you may have difficulty when entering mileage. Why does mileage matter if you're using Actual Expenses? The percentage of business miles and personal miles to the total miles for the year determines the percentage of business use which, in turn, affects depreciation if the vehicle is also available for personal use. Split the miles as well, but you might need to do that other than 50/50 if one business uses the vehicle more than the other. You'll have to determine that.
Also, you will need to add the depreciation form both businesses when/if you sell the vehicle to calculate any Depreciation Recapture and/or Capital Gains.
Treat as two different vehicles and split all the entries when putting into service.
Add everything together and treat as one vehicle when disposing.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
