Taxes for Truckers

Truck driver tax deductions may include any expenses that are ordinary and necessary to the business of being a truck driver. Taxes and deductions that may be considered “ordinary and necessary” depend upon:

You
Your occupation
What the job is and what the expenses are for
The IRS considers a semi-truck to be a qualified non-personal-use vehicle. As a truck driver, you must claim your actual expenses for vehicles of this type. So, you can’t use the standard mileage method.

To deduct actual expenses for the truck, your costs can include (but aren’t limited to):

Fuel
Oil
Repairs
Tires
Washing
Insurance
Any other legitimate business expense
Other unreimbursed expenses you can deduct include:

Log books
Lumper fees
The cell phone that’s 100% for business use
License and fees for truck and trailer
Interest paid on loan for truck and trailer
Depreciate your truck and trailer:

Over three years for a semi-truck for regular tax — or over four years for the Alternative Minimum Tax (AMT)
Over five years for a trailer for regular tax — or over six years for AMT
If you’re an employee, you can also deduct travel expenses away from home. You’re traveling away from home only if both of these are true:

You’re required to be away from your tax home for substantially longer than a day’s work.
You need to sleep or rest to meet your work demands while away from home.
As a trucker, you’re not considered to be traveling away from home if both of these are true:

You leave your terminal and return home on the same day.
You have an hour off for lunch in between.