Can I claim gas on my taxes

leechristina1995 · ‎June 6, 2019

DawnC0 · ‎June 6, 2019

Yes, if you use the ''actual cost'' method for your business vehicle expense deduction.

You can claim deductible business auto/truck expenses in one of two ways:

IRS Standard Mileage Rate: You can claim business miles times the IRS mileage rate. IRS mileage rates for business activities are $0.58/mile in 2019. You can deduct parking and tolls in addition to the standard mileage rate.

Actual Cost Method: You can claim your actual costs including depreciation times the percentage that you use your car for business. Actual costs would include gas, oil, insurance, car washes, loan interest, repairs, lease payments, etc. Principal payments on a note or loan would not be deductible directly. The cost of the vehicle would be deducted through depreciation instead (or lease payments if you lease it.)

DawnC0 · ‎June 6, 2019

Yes, if you use the ''actual cost'' method for your business vehicle expense deduction.

You can claim deductible business auto/truck expenses in one of two ways:

IRS Standard Mileage Rate: You can claim business miles times the IRS mileage rate. IRS mileage rates for business activities are $0.58/mile in 2019. You can deduct parking and tolls in addition to the standard mileage rate.

Actual Cost Method: You can claim your actual costs including depreciation times the percentage that you use your car for business. Actual costs would include gas, oil, insurance, car washes, loan interest, repairs, lease payments, etc. Principal payments on a note or loan would not be deductible directly. The cost of the vehicle would be deducted through depreciation instead (or lease payments if you lease it.)