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gms-yr62
New Member

On Schedule C (rideshare driver) Car & Truck Expenses Worksheet (vehicle desc): What does "Vehicle basis must be entered." mean?

 
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Vanessa A
Employee Tax Expert

On Schedule C (rideshare driver) Car & Truck Expenses Worksheet (vehicle desc): What does "Vehicle basis must be entered." mean?

The vehicle basis is what you have into it minus depreciation.  So if you bought it for $50,000 and took full depreciation, the basis would be $0. 

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