Using parents car for business

[gagekenyon]

Hi, if I use one of my parents vehicles for use in my business (self employed sole proprietorship), am I able to write off gas expenses in Schedule C without claiming depreciation since I didn’t purchase the vehicle? 

[Mike9241]

yes. but be advised you need to maintain documentation as to business miles/total miles driven and gas expenditures. 

[gagekenyon]

So do I fill out part IV of schedule C then? I don’t want to claim the standard mileage deduction for this vehicle since I don’t own it, but I might want to use the standard deduction on a vehicle of my own in the future. However, I know that you can’t switch from actual expenses to standard mileage on the same vehicle. How does the IRS differentiate vehicles?

[Critter-3]

Since you do now own the car your ONLY option is to report the cost of gas ... do NOT use the vehicle section of the program. 

[gagekenyon]

That’s what I thought, but the instructions for schedule C say that you must give information about the vehicle through either part IV or form 4526 in order to claim vehicle expenses. So i’m what section do I put the gas expenses then?