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fnlvn34
New Member

Can a self employed long haul trucker use the standard mileage rate for my leased truck or do I have to use actual expenses?

I was told I had to use actual expenses for a semi truck that was leased but I can't find that information anywhere.  When I tried actual expenses it only gave me a credit of $406.00 for 90K in expenses.  When I ran it on mileage it gave me a 62K credit.  Something is wrong.  Thanks

1 Best answer

Accepted Solutions
AlanT
Expert Alumni

Can a self employed long haul trucker use the standard mileage rate for my leased truck or do I have to use actual expenses?

Unfortunately, The IRS considers a semi-truck to be a qualified non-personal-use vehicle. As a truck driver, you must claim your actual expenses for vehicles of this type. So, you can’t use the standard mileage method.

To deduct actual expenses for the truck, your expenses can include (but aren’t limited to):

  • Fuel
  • Oil
  • Repairs
  • Tires
  • Washing
  • Insurance
  • Any other legitimate business expense
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

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1 Reply
AlanT
Expert Alumni

Can a self employed long haul trucker use the standard mileage rate for my leased truck or do I have to use actual expenses?

Unfortunately, The IRS considers a semi-truck to be a qualified non-personal-use vehicle. As a truck driver, you must claim your actual expenses for vehicles of this type. So, you can’t use the standard mileage method.

To deduct actual expenses for the truck, your expenses can include (but aren’t limited to):

  • Fuel
  • Oil
  • Repairs
  • Tires
  • Washing
  • Insurance
  • Any other legitimate business expense
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
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