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billee55
New Member

Can you deduct fuel if you worked for Uber or Lyft?

 
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bwa
Alumni
Alumni

Can you deduct fuel if you worked for Uber or Lyft?

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

  • IRS Mileage Rate:  You can claim business miles times the IRS mileage rate. IRS mileage rates for business activities are $0.56/mile in 2014, $.575/mile in 2015, $0.54/mile in 2016 and $0.535 in 2017. You can add parking and tolls to the mileage rate.
  • Actual Cost: 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, repairs, etc. Payments on a note would not be deductible. The cost of the vehicle would be deducted through depreciation instead (or lease payments if you lease it.)


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