In the Q&A section I checked i do not own the vehicle but it tells me to change my answer to enter the mileage driven. Mileage is not a concern to me since its a rental, but I have weekly rental costs for the vehicle. How do I enter the fees related to the rental if I do not own the vehicle?
You'll need to sign in or create an account to connect with an expert.
To report your rental expense in TurboTax:
· Type in schedule c in the search box, top right of your screen
· Click on the first category Jump to schedule c link
· Arrive at the Your 2017 self-employed work summary page.
· Click on the Edit button
· Arrive at the Here’s your info page
· Click on the Add expenses for this work button
· Arrive at the Tell us about any expenses for page
· Scroll down to Less Common Expenses, click the arrow
· Scroll down to and click the radio button next to Equipment Rental
· Click the Continue button on the bottom right of the web page and follow the prompts and online instructions
You should only deduct the percentage of your rental expense used for business purposes.
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
bradjmc5dad
New Member
Liv2luv
New Member
in Education
mkbd11
New Member
SBD5
New Member
LK45
Level 1