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I'm a truck driver. What deductions can I claim?
You can deduct expenses that are ordinary and necessary to the business. Ordinary and necessary depends on factors that vary by:
The IRS considers a semi-truck to be a qualified nonpersonal-use vehicle. You must claim your actual expenses for vehicles of this type. So, you can't use the standard mileage method.
To deduct actual expenses for the truck, your expenses can include but aren't limited to:
Other unreimbursed expenses you can deduct include:
Depreciate your truck and trailer like this:
If you're an employee, you can also deduct the expenses of traveling away from home. You're traveling away from home only if both of these are true:
As a trucker, you're not considered to be traveling away from home if both of these are true: