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August 8, 2022
Question

Where do vehicle expenses for self employment claimed?

  • August 8, 2022
  • 1 reply
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    1 reply

    October 27, 2022

    Depending on which version of TurboTax you are using please follow the steps below:

     

    If you are using TurboTax Online: 

    1. From the Income section in the menu, select Self-Employment, then select Self-Employment Intro
    2. Enter your self-employment information on the screens that follow, selecting Continue after you complete each screen
    3. When you arrive at the Did you have any work-related vehicle expenses? screen, select Yes, then Continue
    4. You'll reach Your Vehicle Expenses Summary. Select Add a Vehicle for Business Use
    5. Fill out applicable information on the form provided, then select Continue
    6. You'll be brought back to Your Vehicle Expenses Summary. Select Done with Vehicles

    Enter your vehicle expenses in TurboTax CD/Download

    1. From the Income & Expenses section in the menu, select Self-Employment
    2. Enter your self-employment information on the screens that follow, selecting Continue after you complete each screen
    3. You'll enter information about your vehicle on the second T2125 - Professional Business Statement #1 screen. In the Calculation of Motor Vehicle Expenses section, be sure to include the total amount of KM you drove your business vehicle in the fiscal year, and the amount you drove only for business purposes
    4. Fill out all other applicable information, including leasing details (if any), and select Continue.

    Thank you for choosing TurboTax.