Where can I list insurance for vehicles owned

[francesrevans]

Can I add the insurance for all of our vehicles

[RyanH2 · Accepted solution]

Yes, you are able to deduct business vehicle insurance in the vehicle expenses area. You will have to enter each vehicle by selecting "+Add a vehicle" at the vehicle expenses summary page, and then enter the insurance in the actual expenses area. Please see below.

To Enter Your Business Vehicle Mileage:

1. Select "Business" at the top of the screen

2. Choose "Continue", then "I'll choose what I work on"

3. Select "Start" next to "Business Income and Expenses"

4. Select "Edit" next to your business name

5. Scroll down to Business Expenses

6. Now select "Start" next to "Business Vehicle Expense"

7. Select "Edit" next to your vehicle

8. Continue through the mileage area until you get to a screen that asks "Do You Want to Enter Your Actual Expenses?" and answer "Yes"

9. On the next page enter your insurance costs in the box next to "Vehicle Insurance"

For more information on claiming your mileage visit this link: Business Use of Vehicles

Note: If you deducted your actual expenses the first year, you cannot switch to the standard mileage deduction this year.