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Type: Posts; User: sammydd

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  1. Answers
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    1,166

    More information I found: Personal property....

    More information I found:

    Personal property. Do not use Schedule E to report income and expenses
    From the rental of personal property,
    Such as equipment or vehicles. Instead,
    Use Schedule C...
  2. Answers
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    1,166

    So I spoke to someone at the IRS, I cannot take...

    So I spoke to someone at the IRS, I cannot take the mileage deduction on a car that I'm not driving. So it does not qualify as "car for hire".

    So now my next question, do I report rental income...
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    Mukata, I believe you cannot claim mileage for a...

    Mukata, I believe you cannot claim mileage for a car that you are renting. Only the owner of a vehicle can claim the mileage.
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    1,166

    Does the definition of "Car for hire" cover...

    Does the definition of "Car for hire" cover renting out the car to another party? Or only if you hire out your car as a taxi service and you are the one driving?
  5. Answers
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    1,166

    Mileage deduction for renting out a car

    Here's one for you..

    I own a vehicle and am self employed, working from home. I use the mileage deduction when driving to visit clients/business purposes. This is all pretty standard so far, but...
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