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mbiggs22
New Member

Can I deduct the purchase of a new car, if I purchased the car exclusively for work? Do i deduct the full sales price for the car or my cash down payment?

 
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georgesT
New Member

Can I deduct the purchase of a new car, if I purchased the car exclusively for work? Do i deduct the full sales price for the car or my cash down payment?

Unless you are using the car for self employed business, you cannot deduct the purchase price of the car in your taxes. You may depreciate the car or claim mileage if used for self employed business. 

If you are using the car for business purpose and you don't get reimbursed by your employer, you can claim the mileage as reimbursed business expense on your schedule A. 

The commuting from your home to the work office is not deductible per the IRS rules. 

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georgesT
New Member

Can I deduct the purchase of a new car, if I purchased the car exclusively for work? Do i deduct the full sales price for the car or my cash down payment?

Unless you are using the car for self employed business, you cannot deduct the purchase price of the car in your taxes. You may depreciate the car or claim mileage if used for self employed business. 

If you are using the car for business purpose and you don't get reimbursed by your employer, you can claim the mileage as reimbursed business expense on your schedule A. 

The commuting from your home to the work office is not deductible per the IRS rules. 

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