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mer73703
New Member

Can I still deduct vehicle insurance on a business use only truck?

 
1 Best answer

Accepted Solutions
ChrystalM
New Member

Can I still deduct vehicle insurance on a business use only truck?

If you are self-employed using your vehicle for business you can either take the standard mileage deduction OR you can write off expenses such as 

  • Gas
  • Oil Changes
  • Tires
  • Insurance
  • Interest on the loan
  • Car Washes
  • Parking Fees
  • Tolls
  • Vehicle Rental Expenses

If you are a W2 employee, you cannot write off any vehicle expenses other than sales tax if you are itemizing and bought a new vehicle in 2018.

View solution in original post

1 Reply
ChrystalM
New Member

Can I still deduct vehicle insurance on a business use only truck?

If you are self-employed using your vehicle for business you can either take the standard mileage deduction OR you can write off expenses such as 

  • Gas
  • Oil Changes
  • Tires
  • Insurance
  • Interest on the loan
  • Car Washes
  • Parking Fees
  • Tolls
  • Vehicle Rental Expenses

If you are a W2 employee, you cannot write off any vehicle expenses other than sales tax if you are itemizing and bought a new vehicle in 2018.

View solution in original post

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