Lease car deduction. Can I deduct the monthly payments on a car I lease in my real estate business?

[PatriciaV · Accepted solution]

Yes, you may report vehicle lease expenses related to your business, as long as you choose to enter actual expenses (instead of the mileage deduction.

The easiest way to find this section of TurboTax is to use the Search/Find box at the top right side of the TurboTax header. Click on the magnifying glass, type in "vehicle expenses, self-employed business", and hit Enter. The first result should be "jump to vehicle expenses, self-employed business". Click on this link to go directly to the input screen for this topic (if you have not entered any business expenses, you will see the summary screen - choose "Cars, Trucks, and other vehicle expenses").