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Updated almost 5 years ago,

User Stats

87
Posts
35
Votes
Matt Rothwell
  • Investor
  • Arden, NC
35
Votes |
87
Posts

Vehicle Deductions?

Matt Rothwell
  • Investor
  • Arden, NC
Posted

I'm going to be managing my first property as soon as I can get an offer accepted. My plan is to buy a quad, owner occupy, and I'm going to skip the LLC because I don't see it really providing much in the way of benefits for my situation.

So here's the thing: since I'll be managing, I'm probably going to need some sort of beater/$3000 truck/wagon/van, since my BMW sedan is probably not going to be able to carry much stuff. I also really don't want to screw it up by carrying around tools, lawnmower, appliances, etc. I suppose I could rent a truck when I've got to move stuff, but its always a pain and I'd be back to needing to worry about dirtying it up again.

Is it possible to deduct a "business expense" like a truck even if I don't have a separate business/corporation setup? I know this might be a dumb question, but I've never filed anything other than a 1040EZ before.

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