Old 05-15-11, 12:04 AM
  #14  
Nermal
Senior Member
 
Nermal's Avatar
 
Join Date: Jan 2006
Location: Farmington, NM
Posts: 2,308

Bikes: Giant Cypress SX

Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 79 Post(s)
Liked 10 Times in 6 Posts
[QUOTE=fietsbob;12642122].

[anyone know from doing Pizza delivery which required you to use
your own car?, taken depreciation, fuel, maintainence, cost's, etc]
QUOTE]

You just take 1040 and probably Schedule C for business use of personal auto. Anyhow, you can do it though maybe not Schedule C. I think you have the option of itemizing fuel, insurance, and depreciation or taking a standard per mile deduction. Keep good records and keep them for a minimum of three years. Be aware that depreciation lowers the cost basis of the car when you sell it.

ETA: That's three years from the time you dispose of the asset, by the way. I wouldn't consider it with a bike unless it were high dollar and it were exclusively in business use.
__________________
Some people are like a Slinky ... not really good for anything, but you still can't help but smile when you shove them down the stairs.
Nermal is offline