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gms-yr62
March 15, 2025
Question

On Schedule C (rideshare driver) Car & Truck Expenses Worksheet (vehicle desc): What does "Vehicle basis must be entered." mean?

  • March 15, 2025
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    Vanessa A
    March 15, 2025

    The vehicle basis is what you have into it minus depreciation.  So if you bought it for $50,000 and took full depreciation, the basis would be $0. 

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