Updated over 4 years ago on . Most recent reply
Deducting Cost of Car Purchase
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?