Two Schedule Cs

laurielmorris1 — Tue, 04 Jun 2019 21:18:11 GMT

I have two separate businesses that I report on Schedule C. I have a new truck (purchased in 2018 at $62,000) that I am using 100% for business. I don't understand how to enter the truck on the two Schedule Cs. Do I divide the cost in half & enter $31,000 on each Schedule C?

Any other advice is also appreciated.

Yes - Since you use the truck for both businesses, divide...

IreneS — Tue, 04 Jun 2019 21:18:12 GMT

Yes - Since you use the truck for both businesses, divide the cost of the truck by the amount of use for each business. If it's used equally, $31k for each business.

topic Two Schedule Cs in Business & farm

Two Schedule Cs

Yes - Since you use the truck for both businesses, divide...