# SO I SKIPPED A YEAR RIDE-SHARING, WHAT SHOULD I EXPECT FOR THIS YEAR'S TAXES



## DRII (Feb 24, 2018)

So i thought i was finished with this 'stuff', but i'm back (skipped 2017).

what should i expect for taxes this year?

i used the actual expense method for my 2015 and 2016 taxes. each year, deductions were greater than earnings. i had some, what i would consider, 'one-offs' each year that resulted in higher than usual expenses (flooded engine one year, body damage the next etc).

do i have to continue using the actual expense method? it is the same vehicle.

any other insights/recommendations...


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## Older Chauffeur (Oct 16, 2014)

DRII said:


> So i thought i was finished with this 'stuff', but i'm back (skipped 2017).
> 
> what should i expect for taxes this year?
> 
> ...


Yes, you still have to use the actual expense method, per IRS Pub. 463. If you start out the first year with a vehicle by deducting actual expenses you must stay with that method. If you begin by using the SRM you can switch from year to year.
Further, you will need to keep a mileage log to know the percentage of business use to apply to the actual expenses to figure out how much you can deduct.

Disclosure: I'm not a tax professional.


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