Schedule C Expenses - Rent or Lease

Article ID: 33822  

Question
Schedule C Expenses - Rent or Lease

Answer

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Lines 20a and 20b

If you rented or leased vehicles, machi-nery, or equipment, enter on line 20a the business portion of your 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 of-fice space in a building.

 


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Views: 1280 Created on: Jun 15, 2013