Who claims a vehicle deduction when two parties have vehicle equity
Last year I started an LLC to run a car rental business using Turo. My third vehicle was purchased in cash, however half of that cash was provided by a family member who does not own any equity in my LLC, however she does help me with day to day operations for a small monthly fee. The vehicle was registered under my name. I am confused on whether we can legally split the deduction based on vehicle "equity" or if she can even claim her portion of the vehicle payment on her taxes in schedule C? Ideally we want her to claim all the earnings and entire vehicle purchase, would this be possible if I do not claim either?
This Question Has Not Yet Been Answered.
