- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
The business does not have a car, but i find automobile expenses in QBO. It includes FASTRAK and tires. I think FASTRAK I should put in parking and tolls? What about tires...
Best Answer Click here
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Does it own a trailer?
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
no...
its a sole prop. i think its the owner's personal car that has a business use.
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Is the owner claiming standard mileage rate? Tires are included in that.
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
no.. the owner is not claiming standard mileage...
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Maybe you could ask the owner why the tires are a business expense, then.
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Assuming this is for a 1040:
Screen 30 > Vehicle Expenses > Tires
OR
Screen 22 > Automobiles and Other Listed Property > Tires
BUT if the owner doesn't own a car ....
Answers are easy. Questions are hard!
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
This was a trick question -- the answer is, "If the business does not have a car and the owner does not keep a log of business miles in his POV, the FASTRAK tolls are not deductible." Just because something is paid from a business account does not mean it belongs on Schedule C.