business vehicle

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I started using my personal vehicle for my business as an independent contractor in 2022. I started my second business on Jan 1 2023 and use the vehicle in that business also. Do I enter this vehicle information for each businesses.

AnnetteB6Answer

Employee Tax Expert

Yes, if the vehicle is used for two businesses, the information must be tracked according to the use of the vehicle for each business and entered under each Schedule C.

Your total miles driven for the year will be the same on both Schedule Cs, but the total business miles under each Schedule C should be reporting only miles driven for each particular business.

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AnnetteB6

Answer

Employee Tax Expert

Yes, if the vehicle is used for two businesses, the information must be tracked according to the use of the vehicle for each business and entered under each Schedule C.

Your total miles driven for the year will be the same on both Schedule Cs, but the total business miles under each Schedule C should be reporting only miles driven for each particular business.

**Say "Thanks" by clicking the thumb icon in a post. **Mark the post that answers your question by clicking on "Mark as Best Answer"