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Can i claim a historical vehicle i bought as a investment? only drive to car shows and test drives.
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Can i claim a historical vehicle i bought as a investment? only drive to car shows and test drives.
If this vehicle is part of a business, you can claim the vehicle and expenses related to it.
https://turbotax.intuit.com/tax-tips/small-business-taxes/business-use-of-vehicles/L6hi0zzzh
Also, maybe this is more of a Hobby for you. You can deduct expenses from Hobby Income.
https://www.irs.gov/newsroom/five-basic-tax-tips-about-hobbies.
Either way, the key element is making some sort of income from these endeavors with the car that creates income.
- Mark as New
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Can i claim a historical vehicle i bought as a investment? only drive to car shows and test drives.
- Mark as New
- Bookmark
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- Subscribe to RSS Feed
- Permalink
- Email to a Friend
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Can i claim a historical vehicle i bought as a investment? only drive to car shows and test drives.
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Email to a Friend
- Report Inappropriate Content
Can i claim a historical vehicle i bought as a investment? only drive to car shows and test drives.
If this vehicle is part of a business, you can claim the vehicle and expenses related to it.
https://turbotax.intuit.com/tax-tips/small-business-taxes/business-use-of-vehicles/L6hi0zzzh
Also, maybe this is more of a Hobby for you. You can deduct expenses from Hobby Income.
https://www.irs.gov/newsroom/five-basic-tax-tips-about-hobbies.
Either way, the key element is making some sort of income from these endeavors with the car that creates income.