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I rented a car for my small business for a week (My own car was in the shop). I'm entering this expense in Vehicle Expenses (not Travel). Some driving was personal. Should I enter the full cost of the rental or deduct something for the personal driving?

 
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WillK
Intuit Alumni

I rented a car for my small business for a week (My own car was in the shop). I'm entering this expense in Vehicle Expenses (not Travel). Some driving was personal. Should I enter the full cost of the rental or deduct something for the personal driving?

Yes. You will need to figure out the percentage that you drove for work and then for business, and then you can deduct the business portion you drove on your return. 

For example: , lets say the bill to rent  was $500.00 (used 100% of the time). You calculated that you drove 30% of the time for business and 70% of the time for personal. So $500.00 multiplied by 30%= $150.00. You can write off $150.00 as a business expense, and $350.00 would be a personal expense. 

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1 Reply
WillK
Intuit Alumni

I rented a car for my small business for a week (My own car was in the shop). I'm entering this expense in Vehicle Expenses (not Travel). Some driving was personal. Should I enter the full cost of the rental or deduct something for the personal driving?

Yes. You will need to figure out the percentage that you drove for work and then for business, and then you can deduct the business portion you drove on your return. 

For example: , lets say the bill to rent  was $500.00 (used 100% of the time). You calculated that you drove 30% of the time for business and 70% of the time for personal. So $500.00 multiplied by 30%= $150.00. You can write off $150.00 as a business expense, and $350.00 would be a personal expense. 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
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