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Deduct car payments if self employed ?

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  • Deduct car payments if self employed ?

    I'm a partner in a physician owned LLC. We each receive K1 instead of a W2/1099. Being "self employed" , can I deduct my car lease payments on schedule C when filing taxes ? ( most of my car use is for work commute 70-80% - I have another old car that I use for long distance traveling, shopping, etc. )

  • #2
    Commuting is not an eligible business expense. Not to mention, a partner's K-1 income is filed on a Schedule E, not a Schedule C.

    You are the second partner in less than a day thinking they file on a Schedule C. This is an extremely basic taxes 101 concept. You should be engaging a tax professional to do your taxes.

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