the IRS did away with form C-EZ. there's is also the issue that if you're renting it to your business, there should be depreciation taken based on % used and lower of cost or Fair Market Value at date put into service. However, thinking more about it why rent it to your business? it may be more trouble than it's worth. the rent must be at FMV, too high and if the IRS catches it, it will disallow the deduction to the family business. you may also have to support the % used for business vs personal. ie documentation just like people who use their vehicles for business and can still deduct the expenses.
