Tax Year Prior to 2020: Can I deduct my commercial car insurance for my Uber driving?

jmokeefe — Mon, 01 May 2023 21:36:40 GMT

Yes, absolutely. Also, you can enter it as an "ordinary...

KarenL2 — Wed, 05 Jun 2019 03:07:48 GMT

Yes, absolutely. Also, you can enter it as an "ordinary and necessary" business expense as Business Insurance and not a "vehicle" expense. That way, you will be able to deduct the full amount instead of only the percentage limit for business vehicle expenses. (Note: This exception is only for the commercial car insurance, not your normal auto insurance which goes in the Business Vehicle Expense section.)

How to get to that area : While inside the software and working on your return, type Schedule C in the Search at the top of the screen (you may see a magnifying glass there). There will be a popup that says Jump to Schedule C. Select that to get to the general area.

Then,

Business Income and Expenses
select Edit next to your business (if it is there)
scroll to Business Expenses
then, Other Common Business Expenses
on that screen you will see categories and can choose Insurance Payments
then, Business Insurance (it's more of a liability type of insurance that is 100% deductible) Do not enter your normal auto insurance in this area.

topic Tax Year Prior to 2020: Can I deduct my commercial car insurance for my Uber driving? in Deductions & credits

Tax Year Prior to 2020: Can I deduct my commercial car insurance for my Uber driving?

Yes, absolutely. Also, you can enter it as an "ordinary...