topic Where do I enter deductions for rental car, mileage, gas, associated with car service as a contractor in Investors & landlords

Where do I enter deductions for rental car, mileage, gas, associated with car service as a contractor

panayioti420 — Sun, 14 Mar 2021 03:13:07 GMT

as a contractor, rent car from car service. transport medical patience. received 1099-NEC. Turbo Tax assumes ownership or lease of car but that is not happening. How do I enter deductions for gas, mileage, rental fee?

Re: Where do I enter deductions for rental car, mileage, gas, associated with car service as a co...

npierson7 — Sun, 14 Mar 2021 03:31:49 GMT

You can enter these expenses as if you lease the car. You will be able to deduct your actual expenses, don't choose the simplified method. To enter your business expenses in TurboTax:

Log into your TurboTax online account and click on the Business tab and select Continue.
Select “I'll choose what I work on” and this takes you to “Let's gather your business info” screen.
The first section down is Business Income and Expenses, choose Update and enter your car expenses.

Re: Where do I enter deductions for rental car, mileage, gas, associated with car service as a co...

panayioti420 — Sun, 14 Mar 2021 04:16:30 GMT

Thank you for the response. However, I do not have a business tab showing with my online Turbo Tax. Turbo Tax seems to be in a loop where it is unable to distinguish deductions that apply to Schedule C and those that do not, where 1099-NEC would apply. This is all very frustrating. I have deleted my tax returns 3 times trying to find information that the help section offers and it does not exist.

Re: Where do I enter deductions for rental car, mileage, gas, associated with car service as a co...

AnnetteB6 — Sun, 14 Mar 2021 12:36:35 GMT

In order to enter business income and expenses reported on Schedule C, you must be using the TurboTax Online Self-Employed version. Otherwise you cannot claim any business expenses associated with your self-employment income reported on Form 1099-NEC. Once you are using the correct version of the program, the instructions to go to the Business tab will make more sense.

Since you do not own the vehicle that you used for your business, you will not be able to claim the standard mileage deduction. Instead, you must use the actual expense method for claiming your vehicle expenses.

@panayioti420