I drive a truck for a living and have a question about truck driver taxes. Are there any truck driver tax deductions I can claim on my tax return?
Truck driver tax deductions may include any expenses that are ordinary and necessary to the business of being a truck driver. Taxes and deductions that may be considered “ordinary and necessary” depends upon:
- Your occupation
- What the job is and what the expenses are for
The IRS considers a semi-truck to be a qualified non-personal-use vehicle. As a truck driver, 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):
- Any other legitimate business expense
Other unreimbursed expenses you can deduct include:
- Log books
- Lumper fees
- Cell phone that’s 100% for business use
- License and fees for truck and trailer
- Interest paid on loan for truck and trailer
Depreciate your truck and trailer:
- Over three years for a semi-truck for regular tax — or over four years for the Alternative Minimum Tax (AMT)
- Over five years for a trailer for regular tax — or over six years for AMT
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:
- You’re required to be away from your tax home for substantially longer than a day’s work.
- You need to sleep or rest to meet the demands of your work while away from home.
As a trucker, you’re not considered to be traveling away from home if both of these are true:
- You leave your terminal and return home in the same day.
- You have an hour off for lunch in between.
Can you deduct moving expenses only if you buy a home in a new location? How about renting an apartment? Get answers from the tax experts at H&R Block.
If you have a new baby, are you eligible for a tax credit? Learn more from the tax experts at H&R Block.
Looking for information on the Illinois property tax rate? Read here to learn who owes, how to pay and more with H&R Block.
Looking for more information about your Michigan refund? Find out details on how to check your refund status, who to contact, and more from H&R Block.