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How would I calculate the vehicle cost to enter on my taxes? I used my vehicle for 4-5 months for door dash while financing in 2024 and I now own it.

 
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How would I calculate the vehicle cost to enter on my taxes? I used my vehicle for 4-5 months for door dash while financing in 2024 and I now own it.

For most people, the standard mileage method gives a higher recovery with less paperwork.  The standard mileage method can be used whether you own the car, or lease it, or "own it" (have title but are making payments to a bank holding a lien).

 

To use the actual expense method, you need much more extensive records.  And, when you say financing, do you mean you owned the car with a loan, or you leased the car, or something else?

 

See chapter 4 of publication 463.

https://www.irs.gov/forms-pubs/about-publication-463

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