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Schedule C Expenses - Rent or Lease

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Schedule C Expenses - Rent or Lease

Answer

If you rented or leased vehicles, machinery, or equipment, enter on line 20a the business portion of y

our rental cost. But if you leased a vehicle for a term of 30 days or more, you may have to reduce your deduction by an amount called the inclusion amount. See Leasing a Car in chapter 4 of Pub. 463 to figure this amount.

Enter on line 20b amounts paid to rent or lease other property, such as office space in a building.


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Views: 312 Created on: Jun 15, 2013
Date updated: Aug 31, 2015

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