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posted Jun 1, 2019 9:59:10 AM

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

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1 Best answer
Expert Alumni
Jun 1, 2019 9:59:13 AM

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

1 Replies
Expert Alumni
Jun 1, 2019 9:59:13 AM

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