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lavstar84
New Member

I have 2 self employed income and expense that are both in the same line of business. Should I split my vehicle and phone/internet write off between the 2?

 
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3 Replies
MinhT
Expert Alumni

I have 2 self employed income and expense that are both in the same line of business. Should I split my vehicle and phone/internet write off between the 2?

If you report your 2 businesses on separate Schedules C, you should split these expenses between the 2 businesses.

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lavstar84
New Member

I have 2 self employed income and expense that are both in the same line of business. Should I split my vehicle and phone/internet write off between the 2?

So I can have my vehicle and phone expenses on both businesses? Just split the expenses? Same for my other writes off's?
MinhT
Expert Alumni

I have 2 self employed income and expense that are both in the same line of business. Should I split my vehicle and phone/internet write off between the 2?

In fact, if the two businesses are in the same line of business and if on a joint return they belong to the same spouse, you could combine them on one Schedule C. But if you have chosen to separate them, then you should split the expenses which are common to both businesses.
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