Jointly owned car and my business deduction

[tmcenroe]

Hi,

My husband and I file jointly and own a car I use for my business. I have a sole propriety business and use the car for business 50% of the time.  Can I still deduct the car for my business use and/or Section 179?

R/,

Tara M.

[KrisD15]

You can definitely report that vehicle expense. 

You can use Actual Expenses or the Standard Mileage rate.  

You do not need to have the title in the name of the company nor in your name only. 

Please keep track of the depreciation you take on the vehicle, that might factor in when you sell the vehicle. 

Please make sure you enter business miles and total miles so the program knows what portion is used for business.