564291
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

I use my car for personal AND work year round, how much of my insurance can I claim?

 
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Best answer

Accepted Solutions
Anita01
New Member

I use my car for personal AND work year round, how much of my insurance can I claim?

You use the same ratio of use for each expense.  If you chose to use mileage, you'd divide business mileage by total mileage then apply that number to annual insurance cost.  If you chose to use actual expense, you still divide the mileage for business by total mileage and apply the percentage to insurance costs.  For example if you only used the car 10% for business based on mileage driven, then you'd only deduct 10% of your insurance cost.

View solution in original post

1 Reply
Anita01
New Member

I use my car for personal AND work year round, how much of my insurance can I claim?

You use the same ratio of use for each expense.  If you chose to use mileage, you'd divide business mileage by total mileage then apply that number to annual insurance cost.  If you chose to use actual expense, you still divide the mileage for business by total mileage and apply the percentage to insurance costs.  For example if you only used the car 10% for business based on mileage driven, then you'd only deduct 10% of your insurance cost.

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question