Vehicle Repair Question

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  • daycare
    Advanced Daycare.com *********
    • Feb 2011
    • 16259

    Vehicle Repair Question

    I have to replace my entire engine in my car and the cost will be about $5700.

    I use my vehicle to transport one child to and from school, how much of this can I write off. OR can I even write any of it off?
  • Michael
    Founder & Owner-Daycare.com
    • Aug 2007
    • 7950

    #2
    Some information from Tom Copeland: https://www.daycare.com/forum/showthread.php?t=34200

    The business portion of car expenses are determined by dividing the number of business miles you drove by the total number of miles you drove. So, if you drove 2,000 business miles and 10,000 total miles, your business portion is 20% and you get to deduct 20% of car loan interest using the standard mileage rate, and 20% of all actual expenses, using the actual expenses method.

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    • daycare
      Advanced Daycare.com *********
      • Feb 2011
      • 16259

      #3
      thanks
      for taking the time to answer this for me

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