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Client is Schedule C Owner/Operator. He wants to write off

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$13,600 for a truck and...
Client is Schedule C Owner/Operator. He wants to write off $13,600 for a truck and trailer he recently bought for 2014...The client wants to write off $13,600 for the truck. He also wants a driver daily allowance of $50.00x240=$12,000. I am unsure how
to go about reporting this information on his tax return.
Submitted: 2 years ago.Category: Tax
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Answered in 55 minutes by:
10/15/2015
Tax Professional: Barbara, Enrolled Agent replied 2 years ago
Barbara
Barbara, Enrolled Agent
Category: Tax
Satisfied Customers: 4,041
Experience: 20+ years of experience in tax preparation; 30+ years of experience as a real estate/corporate paralegal.
Verified

Look at the specific instructions for Lines 9 and 13 of Schedule C.

https://www.irs.gov/pub/irs-pdf/i1040sc.pdf

What the client wants to do is not necessarily what he is permitted to do.

Let me know if I can assist you further.

Best regards,

Barb

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Tax Professional: Barbara, Enrolled Agent replied 2 years ago

Just following up with you to see if you have any other questions. If so, please come back to me here at your convenience, and I will be happy to assist you.

Best regards,

Barb

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Barbara
Barbara
Barbara, Enrolled Agent
Category: Tax
Satisfied Customers: 4,041
4,041 Satisfied Customers
Experience: 20+ years of experience in tax preparation; 30+ years of experience as a real estate/corporate paralegal.

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