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Does having to acquire full coverage car insurance count an an expense for rideshare driving?

 
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1 Reply
AnnetteB6
Employee Tax Expert

Does having to acquire full coverage car insurance count an an expense for rideshare driving?

Yes, the cost of your car insurance is an expense for your business of rideshare driving.  

 

You will be able to deduct a percentage of the insurance cost based on the business percent of use of your vehicle based on the miles driven for business versus the total miles driven for the year.

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