You'll need to sign in or create an account to connect with an expert.
Leased vehicles typically come from car dealerships, whereas rented vehicles normally come from car rental agencies in standalone stores or at airports.
A lease is an agreement to buy the vehicle and the period is at least one year, usually three years. A rental is an agreement to drive the vehicle for a much shorter time period than one year.
Your description is of a rental.
it doesn't matter because either way you are entitled to a deduction for the business use,
There is a difference between leasing a vehicle and renting a vehicle. You specifically used the word "rent", and you say you only rented it for a month. Therefore, it's rent and should be reported as such.
Assuming you're filing a SCH C, you'll report your vehicle rental expense for that one month in the Other Common Business Expenses section. There's a sub-section for Business Travel which includes rental car expenses.
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.
yuetwsoo
New Member
MSCOOKIE1
New Member
barfiear
New Member
mjcordeniz
Level 1
mroman2013
New Member