We have a business vehicle and I need to keep track of expenses such as repairs and gas. How should I categorize those receipts? Thanks.
Just to confirm, you are using the Actual Expenses method instead of Standard Mileage? In our experience, this is not typical for most rental property owners due to the excessive documentation and hassle required. More info here: Tax Write Offs for Car Business Expenses
One vehicle is deducted using actual expenses, while our recently purchased second vehicle is on the mileage method. Our new CPA explained that since the older vehicle was initially filed under actual expenses, we must continue with that approach.