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Vehicle insurance premiums on a personal vehicle, not used in a business, is not deductible on a tax return.
Hello and good afternoon stina 1978!
You asked if you can deduct vehicle insurance on your 2023 tax return. The answer would depend on what type of income you earn, and what field of work you are in. In general, car insurance can be deductible, for individuals who are self-employed and by certain other individuals in certain lines of work, such as:
Keep in mind if you use your personal car for both personal and business purposes. you will have to prorate the amount by dividing the expenses between personal and business use, based on the miles that you drive.
For additional informatio on deductible expenses, please see the following articles:
Thank you for joining us today and have a great rest of your day!
Terri Lynn, EA
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