My cousin drives for Uber, Lyft , and UberBlack. For Uber and Lyft he drives his car but it’s in my name, for credit reasons. Let’s call this car X. He makes all the payments including insurance. And if it makes any difference, the payments post automatically from his bank account. It was a lease and was bought off last year. For Uber black, he uses another car, not in his name for which he pays rent. Let’s call this car Y. He also receives a 1099 for it.
- Can he use the mileage deduction for X? For Y?
- Can he use the depreciation for X even though it’s in my name? It’s practically his for the life of the car. It just has my name on it.
Thank you.
