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I rented a Work truck for a month because mine was in the shop. is it better to list it as a short term lease or rental?

 
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3 Replies

I rented a Work truck for a month because mine was in the shop. is it better to list it as a short term lease or rental?

 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.


I rented a Work truck for a month because mine was in the shop. is it better to list it as a short term lease or rental?

it doesn't matter because either way you are entitled to a deduction for the business use,

 

Carl
Level 15

I rented a Work truck for a month because mine was in the shop. is it better to list it as a short term lease or rental?

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.

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