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Old 02-26-2013, 08:30 AM
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daycare daycare is offline
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Join Date: Feb 2011
Location: Mars
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Default Vehicle Insurance Claim

Hi Tom-

I have a 1million dollar policy on my vehicle for the purpose of transporting the DCKs for Field Trips.

I am doing my own taxes this year and am using MMK for my accounting and tracking of expenses, etc.

I pay $310.00 each month for my auto insurance which is not 100% business. I would say its about 60% business use.

when I entered my vehicle insurance under actual vehicle expense, it is only allowing me to claim about 20% of the payments made.

Does this sound correct? I am a little concerned, because I am paying almost triple in insurance to obtain this policy, but only going to be able to claim 20%???

Thanks so much for your help,

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