Hi,

I would like to know if I can Itemize the Auto loan payments I made last yr? I read some where that I can't Itemize the Auto loan Interest, if this is the case can I itemize the Principle alone? Can we itemize the auto insurance?

Secondly I am on H1 and consulting, I moved from NJ to MA to WA to CT all within 4 and 3 months and 2 months respectively. Can I itemize the expenses involved in this move such as flight fare, housing, car move (MA to WA to CT), car rental, food, ETC?

Please let me know
Thanks
Vanitha

The only way you can itemize car payments is if the car is used exclusively for busines purposes. Then you would include it as a business expense on a schedule C

Same thing goes for the move. Since they were expenses incurred by your consulting business, they can be used to offset your consulting income.

Thanks Scott, So as per you if the car is used for business purpose I can itemize the car payments. Should there be any formalities to prove that car is used for business travel alone? Please note that I am on H1 visa and I consult for my company and the car is in my name.

Regards,
Vanitha

Again, You can only claim the expense against business income. You may have to keep an exact log of mileage to show that the usage was only for business.