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Are Uber drivers allowed to claim depreciation on their

cars? How about special allowance...
Are Uber drivers allowed to claim depreciation on their cars? How about special allowance depreciation?
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Answered in 3 minutes by:
9/12/2017
Lane
Lane, JD, CFP, MBA, CRPS
Category: Tax
Satisfied Customers: 14,679
Experience: Law Degree, specialization in Tax Law and Corporate Law, CFP and MBA, Providing Financial & Tax advice since 1986
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Yes, Uber drivers have the same options as any other business owner, as it relates to business use of the vehicle.

...

You can use either the actual cost method or the standard mileage rate (but not both)

...

Depreciation is one of the ACTUAL costs.

...

And yes, section 179 depreciation is available, (bonus depreciation as well, but to use bonus depreciation, the vehicle must be a new purchase)

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Customer reply replied 10 months ago
In our system, it is called special allowance. Would that be bonus depreciation?

Yes, sorry to use jargon. The special depreciation allowance is ore commonly referred to as bonus depreciation.

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Customer reply replied 10 months ago
Thank you.

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Lane

Lane
Lane, JD, CFP, MBA, CRPS
Category: Tax
Satisfied Customers: 14,679
Experience: Law Degree, specialization in Tax Law and Corporate Law, CFP and MBA, Providing Financial & Tax advice since 1986
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