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Returning Member
posted Apr 14, 2022 12:44:09 AM

Vehicle used in rental properties. What is the service date in Sch E worksheet?

I have several rental properties that I acquired in different times. The same vehicle is used in managing all of them.

Schedule E worksheet asks for the date placed in service in each rental property. Should I enter the date of using the car for the first rental property in all places, or the individual purchase date of each property?

 

E.g.: two properties acquired in Jan 1 2001 and Jan 1 2009. Do I enter 1/1/2001 in both Sch E worksheets as the vehicle date placed in service, or 1/1/2001 and 1/1/2009 respectively?

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1 Replies
Expert Alumni
Apr 14, 2022 10:46:02 AM

In this situation, the Standard Mileage rate would simplify reporting your vehicle cost. You would need to track mileage for each property, rather than allocate actual expenses.

 

In most cases, though, you would enter the date you first used the vehicle for your business. This would be the same date for all properties.