I purchased a new vehicle in 2019 and use it for rideshare. Do I enter the property taxes paid in the vehicle purchase every year or just the first year.
If your state imposes a property tax every year that is based on the value of your vehicle, then you would enter the amount every year. The business percentage of the property tax (based on the business miles) will then be deducted as a business expense.
**Mark the post that answers your question by clicking on "Mark as Best Answer"
Still have questions?Make a post