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Fkatz · 05-12-2008, 08:49 AM

Hi All,

It seems that there is confusion on this question,

Since the truck broke down, and is in the shop, the car rental and a Hotel are deductible, and it includes the per Diem for the days that you are broke down.

On Schedule C

The Per Diem is reimbusement for meals only, $52.00 US and $58.00 Canada. at 80% for 2008 line 24B

the Hotel is fully deductible under travel, line 24A

and the Car Rental is also fully deductible under vehicle, equipment, rental or lease. Line 20
only thing not deductible on this is the mileage. this can not be taken as a deduction on a car rental. you use the full price. including fuel, even if you go home. you cannot use the mileage for this deduction.

Franklin Katz
Franks Tax & Business Service
120 York Rd
Kings Mountain, NC 28086
704-739-4039

Circular 230 Disclaimer - Any tax advice in this communication (including any attachments) is not intended or written to be used, and cannot be used, by any taxpayer for the purpose of (1) avoiding tax related penalties under the Internal Revenue Code or (2) promoting, marketing or recommending to another party any transaction or tax-related matters addressed herein.

05-12-2008, 08:49 AM	#18 (permalink)
Fkatz Moderator Join Date: Nov 1999 Location: . Rating: Posts: 539	Re: car rental deduction? Hi All, It seems that there is confusion on this question, Since the truck broke down, and is in the shop, the car rental and a Hotel are deductible, and it includes the per Diem for the days that you are broke down. On Schedule C The Per Diem is reimbusement for meals only, $52.00 US and $58.00 Canada. at 80% for 2008 line 24B the Hotel is fully deductible under travel, line 24A and the Car Rental is also fully deductible under vehicle, equipment, rental or lease. Line 20 only thing not deductible on this is the mileage. this can not be taken as a deduction on a car rental. you use the full price. including fuel, even if you go home. you cannot use the mileage for this deduction. Franklin Katz Franks Tax & Business Service 120 York Rd Kings Mountain, NC 28086 704-739-4039 Circular 230 Disclaimer - Any tax advice in this communication (including any attachments) is not intended or written to be used, and cannot be used, by any taxpayer for the purpose of (1) avoiding tax related penalties under the Internal Revenue Code or (2) promoting, marketing or recommending to another party any transaction or tax-related matters addressed herein.