I bought a vehicle.
I used it for multiple properties.
Do I enter the SAME vehicle into MULTIPLE schedule E's using a REDUCED RATIO for all properties the vehicle was used on?
Or, does the IRS for some reason prefer that I put the vehicle into ONE schedule E?
i AM using the ACTUAL EXPENSES method so I can depreciate.
Yes, I have mileage and expenses log.
Thanks!
You'll need to sign in or create an account to connect with an expert.
Since you are using the Actual Expenses method ... for simplicity sake just put it all on one property because in the end it all comes out the same way. Keep acurate records in case the IRS ever asks about it.
Any other opinions on this from anyone?
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
NYC89
New Member
theleeb
Level 2
theleeb
Level 2
Joan2k
New Member
txchentax
New Member
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.