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Level 3
December 7, 2019
Solved

Can I depreciate the business use portion of my leased vehicle on my Schedule C?

  • December 7, 2019
  • 2 replies
  • 38 views

I would think that the answer is "no" since I'm already deducting the lease cost.

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Best answer by sjrcpa

You are correct.

2 replies

sjrcpa
sjrcpaAnswer
Level 15
December 7, 2019

You are correct.

The more I know the more I don’t know.
abctax55
Level 15
December 7, 2019

You can't depreciate something you don't own....so Susan is correct.

The ability to take mileage on leased vehicles is a relatively new opportunity; and don't forget the lease inclusion value

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