topic Uber Driver Financed Vehicles can't use mileage deduction? in Self employed

Uber Driver Financed Vehicles can't use mileage deduction?

Gb1123 — Thu, 02 Apr 2020 04:39:21 GMT

I filed today in TurboTax , my vehicle is financed through a bank , the only options were Lease , Own, Don't Own . I don't own the vehicle a bank does , I clicked the help articles and it said if the vehicle is financed can't claim mileage because I do not own it. I ended up doing the maintenance deductions but I can't find anything else that supports this???

Re: Uber Driver Financed Vehicles can't use mileage deduction?

mpalmer48 — Thu, 02 Apr 2020 19:24:36 GMT

Who is the registered owner on the registration. If you, you own the vehicle. If you are buying it, and make payments, you are the owner. If you lease it through Uber/Lyft I'm not sure.

Re: Uber Driver Financed Vehicles can't use mileage deduction?

ThomasM125 — Thu, 02 Apr 2020 19:38:10 GMT

If you lease the vehicle, you can deduct a portion of the lease payment plus the gas and maintenance expenses, but you can't use the mileage allowance.

If you are not leasing it, then you can take the mileage allowance or deduct the actual expenses.