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New Member
posted Jun 3, 2019 1:05:18 PM

I bought a vehicle for work can I deduct it

I purchased a car to use for my uber partner job can I claim the cost as business expense

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4 Replies
New Member
Jun 3, 2019 1:05:19 PM

There are two ways to take a deduction for the business use of your car:

  • Deduct the actual expenses of operating the vehicle for business, including gas, oil, repairs, insurance, maintenance, and depreciation or lease payments.
  • Take the standard IRS mileage deduction. As of 2017, the rate is 53.5 cents per mile driven for business use.

If you use your car for both ride-sharing and personal transportation, you can deduct only the portion of your expenses that apply to the business use. 

Where do I enter my Uber or Lyft expenses? https://ttlc.intuit.com/replies/5370677

Level 1
Nov 7, 2019 12:21:30 PM

But the question was whether one can write off the PURCHASE price of the vehicle (different from operating cost) as a business expense. And that's my question as well. Does anyone have the answer?

Level 15
Nov 7, 2019 12:40:15 PM
Level 1
Nov 7, 2019 10:53:20 PM

Thank you!