I work a full time job as a salaried employee. I started a car rental business this year and rent my vehicles on a platform call Turo. My questions are below.
1. I have a lot of expenses this year for the car rental business that dwarfs my revenue, can I use some of the loss to offset my taxes owed from my salaried position?
2. Do i have to create a diary of miles driven per car to use when i file my taxes?
