I rent my car on TURO. How do deductions work (oil change, cleaning, mileage). If deductions are more than what I made while renting my car out, do I report a loss?

[Texas Roger]

See this tax tips article by TurboTax to help you understand the tax situation: https://turbotax.intuit.com/tax-tools/tax-tips/Self-Employment-Taxes/Tax-Tips-for-Uber--Lyft--Sideca...

You can deduct actual expenses or take a mileage deduction. If you deduct mileage, that deduction includes oil changes, gasoline, tires, repairs, etc. If your expenses are more than your income, then you would enter a loss on your tax return. These entries are all made on Schedule C which then flows to form 1040.

[Texas Roger]

If you had more than $100 of expenses, you will need to upgrade to the Self Employment online version to complete your tax return using the online product.

[benjamin-cockril]

Premier won't suffice?

[Texas Roger]

You can't use Deluxe or Premier if you have more than $100 of expenses and use the online product. You can use any version of the CD/download product. Home & Business (Self Employment in the online product) will give you more guidance in preparing the Schedule C.