I was told I had to use actual expenses for a semi truck that was leased but I can't find that information anywhere. When I tried actual expenses it only gave me a credit of $406.00 for 90K in expenses. When I ran it on mileage it gave me a 62K credit. Something is wrong. Thanks
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Unfortunately, The IRS considers a semi-truck to be a qualified non-personal-use vehicle. As a truck driver, you must claim your actual expenses for vehicles of this type. So, you can’t use the standard mileage method.
To deduct actual expenses for the truck, your expenses can include (but aren’t limited to):
Unfortunately, The IRS considers a semi-truck to be a qualified non-personal-use vehicle. As a truck driver, you must claim your actual expenses for vehicles of this type. So, you can’t use the standard mileage method.
To deduct actual expenses for the truck, your expenses can include (but aren’t limited to):
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