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Forum / Other / Rental Property Tax Deduction Question
I drive an older Ford Truck which I use to manage my rental properties. I also drive other cars from time to time where I may not need my truck. In any case, I purchase AAA Roadside Assistance to ensure that if my vehicle breaks down I'd be covered. The AAA plan is NOT specific to any vehicle. It covers up to 3 free tows up to 100 miles and 1 free tow up to 200 miles for a total of 4 tows a year on my premium membership for any vehicle I'm in. I've purchases AAA coverage for the sole purpose of insurance against my used Truck. However, since the policy does cover me no matter which vehicle I'm in, it also could offer me protection while I'm not conducting activities associated with my rental business even though I only intended the purchase for my rental property use. The question is whether the AAA annual premium is deductible as a business expense; And, if yes, what tax deduction category would I put it in? I know this is not an Ezlandlordforms type question, but hoping someone has the answer. Thank you, T.
Tuan T, CA on Tuesday, June 15, 2021
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