Renting off my Self Employed Business Truck on Turo When I'm not Using it

[BHancock]

Last year I bought a truck for my sole prop schedule c property management business. When I am not using the truck I rent it off on Turo. Last year on Turo I made $3851, but my truck was used for 10,000 miles on Turo and only 1,000 miles for my business use.

For Turo income I did not receive a 1099 as I guess it is under the threshold. Do I put also Turo in as a seperate self employment income/expense and double entry my truck and the separate the mileage difference? Do I insert interest paid of truck on both entries?

What about cost of utilization of my driveway (customers vehicles, and my Turo vehicles)?

[BHancock]

Any info on this? This is the last thing I need clarification on before filing.

[Vanessa A · Accepted solution]

Since the truck is a business truck and not meant for personal use, you could claim the rental income as another activity within the business.

Basically, you will include this income in your gross income and then include the miles in with the rest of the miles if you would want to treat it all as one activity.  Since you did not purposely buy the truck to rent out, instead you are renting out a truck that is part of your business, this would be the easiest way to do it.

You would then enter the Turo fees as commisions in the common business expense spot. 

You could also set up a second business and then include the truck rental as a separate Schedule C business.  In this case, you would need to allocate expenses between the 2 businesses with the Turo rental being