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Old 11-14-2014, 12:36 PM
 
Location: Bakersfield, CA
40 posts, read 145,731 times
Reputation: 29

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I noticed when I buy a car at the dealership, they ask, is this business or personal? Why do they ask that? At the moment I am using my car as an Uber but I have no idea how long will go with this as I am out of work at the moment. So if I tell the dealership its a Personal vehicle, can I still deduct the expenses and the cost of the vehicle on my taxes including depreciation?
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Old 11-14-2014, 01:16 PM
 
Location: North of Boston
3,064 posts, read 5,252,668 times
Reputation: 2687
The dealership is asking because a commercial purchase may qualify for additional or different incentives. This has nothing to do with your taxes.
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Old 11-14-2014, 01:26 PM
 
Location: UpstateNY
8,612 posts, read 8,269,031 times
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They also may want to make a notation of your using it commercially so they can deny any warranty claims. JMHO. Read your warranty carefully.
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Old 11-14-2014, 03:55 PM
 
Location: Bakersfield, CA
40 posts, read 145,731 times
Reputation: 29
Now if I buy a used car from a private seller. I assume the amount that is reported to the DMV (amount that taxes are based of) is the amount I can start depreciating it from, right? (including sec 179 depreciation)
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