Question

If i use the same car for multiple businesses, turbo tax asks me the same questions for each business. Will it count my info over and over as if i have multiple cars?

Forum|Forum|1 year ago
March 10, 2025
1 reply
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For example, it will ask me expenses for my car like interest paid on car. if I enter it for every business will it count it multiple times?

V

Vanessa A

If you use the same car for multiple businesses, then you would allocate the expenses based on the percentage of use for each vehicle. So, if you have 3 businesses and you use the car 25% for one, 25% for the next and 50% for the last, and you paid $1,000 in interest during the year, you would claim $250 for the first, $250 for the second and $500 for the third.

This will keep it from counting an expense multiple times.

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