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Business & farm
I agree that if the business pays for the car, the business writes off the expense. The taxpayer can't write off ANY expenses unless the entire amount is reported as taxable income on their K-1. And if the car is only used 90% for business but the taxpayer gets 100% of the expenses covered, then the other 10% is taxable income.
‎June 4, 2019
5:52 PM