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One vehicle deduction for multiple rental properties question

I use one vehicle for two rental properties (25% + 25%). I also use this vehicle for personal use  (50%)

I report these two rental properties individually in terms of income, expenses and asset deprecation, etc.

 

I spent $500 repair and $1,000 insurance on this vehicle in 2024

 

How much should I report for each rental property in terms of the cost of repair and insurance?

 

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How much should I report for each rental in terms of the price I paid to purchase this vehicle?

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1 Reply

One vehicle deduction for multiple rental properties question

sadly, I don't think Turbotax has a provision to split vehicle expenses among multiple properties unless you use the standard mileage method.

 

splitting the vehicle cost doesn't work because TurboTax doesn't know you did this and thus the depreciation deduction will be too high.  anyoverride will prevent you from e-filing. 

 

maybe someone else has a workaround for actual expenses

 

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