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How do I claim vehicle expenses if I'm self-employed?

by TurboTax•7• Updated 2 months ago

If you used your vehicle to earn self-employment income, then you're eligible to claim vehicle expenses.

You can't claim the total amount of your vehicle expenses, but you can deduct the percentage that relates to your business activities.

  1. Answer the initial Personal info interview questions if you haven't already. This unlocks 2024 tax return.
  2. From 2024 tax return, under Add to your return, enter self and select Self-Employment.
  3. At Your Self-Employment or Business Summary, select Enter New Business.
  4. Continue through the EasyStep interview, continuing past info and past [your business] income summary, until you arrive at Next up, claiming your expenses.
  5. At Select the types of expenses you have, under Vehicle expenses, select Add, then Continue.
  6. Select Start under Vehicle expenses.
  7. Answer Yes to Did you use a vehicle for your work?
  8. Select Add a new vehicle.
  9. Answer the questions and enter info about your vehicle.
  10. You can review your vehicle expenses at Vehicle expenses summary.
  1. Answer all the initial interview questions if you haven't already.
  2. Select Find, enter Business in the search box, select Business profile, then select Go.
  3. At Your self-employment profile for 2024, select your work category, then Continue.
  4. Continue until you reach T2125 Vehicle Expenses, and select Yes.
  5. Answer the questions and enter info about your vehicle.
  6. Once you arrive at T2125 Business Summary, your total amount for Vehicle expense is listed.