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Turo rental car and mileage deduction

I have a few cars I rent on Turo.  I am under the impression that i can not deduct the mileage that renters drive.  Is that correct?  I always assumed that ibn order to claim the mileage I would need to actually drive the car vs. renters driving the miles.  

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5 Replies

Turo rental car and mileage deduction

If you have a "fleet" of cars you rent out to others to drive   then you MUST use the actual expenses method and not the standard mileage rate.  

Turo rental car and mileage deduction

how many different rental vehicles? 

Turo rental car and mileage deduction

I've had up to 5 but does the number of cars matter if I only use them as rentals?  I don't drive them personally.  They are really only rentals that customers rent and drive.  I didn't think there was a way for me to deduct the federal .625 per mile mileage deduction if I (or an employee) was not doing any of the driving.  Am I wrong about that? 

Turo rental car and mileage deduction

That was my assumption.  I do not drive them personally.  They are only rentals. 

Turo rental car and mileage deduction

Since you don't drive any of them yourself then they are not considered a personal vehicle ... they are assets you rent out so you must use the actual expenses option even if you have less than the 5 mentioned ... https://www.irs.gov/publications/p463

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