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Updated almost 4 years ago, 03/08/2021

User Stats

16
Posts
4
Votes
Ryan O.
  • Chicago, IL
4
Votes |
16
Posts

Deducting Cost of Car Purchase

Ryan O.
  • Chicago, IL
Posted

Hello,  I was wondering if anyone had any insight on if expenses incurred in obtaining a vehicle for my real estate business would be tax deductible.

Example:  I own property in Michigan and purchased a vehicle for $10,000 in Phoenix Arizona. I anticipate using this vehicle for both business and personal use.  I flew to Phoenix and drove the car back to Michigan where it will be used. 

Can I expense the costs of the trip to Phoenix and the gas/oil change I paid for on the trip back?

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