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Category: Where Do I Enter....In The Tax Program

Vehicle Expenses - Inputting Actual Expenses

If you use your car for business purposes, you ordinarily can deduct expenses related to the car or truck. Actual expenses include the cost of gas, oil, repairs, insurance, and depreciation on a vehicle. To determine the amount of car and truck expenses that can be included in actual expenses or the total business expenses reported on Schedule C, Schedule C-EZ, Schedule E or Schedule F you must use on of the following two methods:

 

  • Standard mileage rate - The standard mileage rate for 2015 is 57.5 cents per mile. The standard mileage rate for 2016 is 54 cents per mile.
  • Actual car expenses - If you do not use the standard mileage rate, you may be able to deduct your actual car expenses. 

See Publication 463 to determine which method you qualify to use.



Select a link below to show/hide additional information:


To Report Actual Expenses On Form 2106


To Report Actual Expenses For A Reservist On Form 2106


To Report Actual Expenses On Schedule C


To Report Actual Expenses And Depreciation For An Asset On Schedule C


To Report Actual Expenses On Schedule E


To Report Actual Expenses And Depreciation For An Asset On Schedule E


To Report Actual Expenses On Schedule F


Additional Links:

IRS Publication 463

Tax Topic 510 - Business Use of Car



Last Updated: 10/21/2016