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roger_shuman
New Member

I used a Tractor and Trailer to aquire 1099 income can I claim the use?

My 1099 income came from work I did in finding homes to purchase as well as remodel and sell after purchasing them. To aquire this income I used many different tools that I Owned. I used my Tractor and My enclosed trailer. I put more than 9000miles on my trailer for this purpose. Can I deduct this use on my taxes?

1 Best answer

Accepted Solutions
Vanessa
Level 3

I used a Tractor and Trailer to aquire 1099 income can I claim the use?

Both are deductible, but not as a regular expense. 

The tractor and front end loader are assets that would be depreciated.

The Suburban, you can take a standard mileage deduction for or use the actual expenses method meaning gas receipts and repairs, etc prorated based on business vs. personal use. 

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4 Replies
Critter
Level 15

I used a Tractor and Trailer to aquire 1099 income can I claim the use?

Are you talking about a "big rig" and trailer ?    Or a tractor for farming/lawn service ?  

If you are talking about the truck then do NOT use the vehicle expense section for this ... you will enter in all the expenses for this asset in the expenses section and enter it and the trailer as assets ... the rig is 3 year property and the trailer is 7.
roger_shuman
New Member

I used a Tractor and Trailer to aquire 1099 income can I claim the use?

It is a Large tractor with a front end loader, large brush cutter, scraper and tiller.
roger_shuman
New Member

I used a Tractor and Trailer to aquire 1099 income can I claim the use?

The trailer was towed by a suburban I used for this business
Vanessa
Level 3

I used a Tractor and Trailer to aquire 1099 income can I claim the use?

Both are deductible, but not as a regular expense. 

The tractor and front end loader are assets that would be depreciated.

The Suburban, you can take a standard mileage deduction for or use the actual expenses method meaning gas receipts and repairs, etc prorated based on business vs. personal use. 

**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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