No, entering 75% on every business is not accurate. The net profit should reflect the actual vehicle expense for each business. The business use percentage of 25% is possibly the correct entry for each business based on your information. Technically it is whatever the business use percentage is arrived at when entering the correct business miles for each business. And entering the total miles driven all year in each business (should be the same figure for each business). Once you have done this in each of your three businesses, if you add the actual expenses shown on each business you will have the total amount allowed for the year.
If the standard mileage rate (SMR) was not selected the first year this vehicle was placed in service, it can never be used for this vehicle. Actual expenses only are allowed for this vehicle.
@bm251
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
