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I'm an employee and I pay 90 dollars/mo to use my company car for nothing but business use. Can I used that payment on my taxes? if so where?

 
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Hal_Al
Level 15

I'm an employee and I pay 90 dollars/mo to use my company car for nothing but business use. Can I used that payment on my taxes? if so where?

No. You may not deduct that. That's an IRS rule. If you take the car home at night, you are considered to have personal use, and your employer must either charge you or impute taxable income to you.

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2 Replies

I'm an employee and I pay 90 dollars/mo to use my company car for nothing but business use. Can I used that payment on my taxes? if so where?

Do you drive the car back and forth from home to work? That is commuting, which is personal use.
Hal_Al
Level 15

I'm an employee and I pay 90 dollars/mo to use my company car for nothing but business use. Can I used that payment on my taxes? if so where?

No. You may not deduct that. That's an IRS rule. If you take the car home at night, you are considered to have personal use, and your employer must either charge you or impute taxable income to you.

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