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How do I allocate the percentage of expenses for my vehicle usage? I have to file 2 sch c with the same vehicle being used. By 1099 pymt amt, or milage usage?

 
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MarilynG
Expert Alumni

How do I allocate the percentage of expenses for my vehicle usage? I have to file 2 sch c with the same vehicle being used. By 1099 pymt amt, or milage usage?

You can enter your vehicle into each of your Schedules C' and indicate a business use % for each business. 

Then when you claim Vehicle Expenses for each business, if you know the business miles for that business, you can use the standard mileage deduction to report business miles on each Schedule C. 

This is usually the easiest way; all you need to keep track of is business miles for each business.

Click here for more info on Business Use of Vehicles.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

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1 Reply
MarilynG
Expert Alumni

How do I allocate the percentage of expenses for my vehicle usage? I have to file 2 sch c with the same vehicle being used. By 1099 pymt amt, or milage usage?

You can enter your vehicle into each of your Schedules C' and indicate a business use % for each business. 

Then when you claim Vehicle Expenses for each business, if you know the business miles for that business, you can use the standard mileage deduction to report business miles on each Schedule C. 

This is usually the easiest way; all you need to keep track of is business miles for each business.

Click here for more info on Business Use of Vehicles.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
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