TaxProTalk.com

A client started to rent out his Telsa and RV through a website, However, no many days have been rented out ( about 90 days out of 365 days)

so my question: shall I depreciate the cost? and how I expense those expenses - e.g all insurance, electric etc ? just full year or prorated based on the days?
first time to do these kind rentals, thanks!

Does client use them personally when they are not rented?

Very tempting to call it casual rental on 1040 Schedule 1 line 21 maybe with prorata part of insurance on line 36 for this first year and move it to Schedule C only if rental use increases significantly in a future year.

I guess so, Sjrcpa, but he owns other two cars. Tenletters, thanks, I think I will do that.

Actually, there was not much income in 2018 because the rental started in Sep. the describe above partly for 2019 too

I wonder if Elon pays Nikola's heirs a royalty for using his [their] name. Did the OP avoid the royalty?

Nik (the nickname I have always used for him) never married, had no close relatives, and never protected the name in a legal sense. Ergo, no royalties.

John DeLorean probably did protect the name. The car might be coming back. https://www.delorean.com. Back to now, that is, not the future.

Is Diplodok close enough to Nilodop, such that I can sue over infringement? Probably not, but I am a confirmed nuisance, so I might be able to squeeze out a nuisance settlement.

Diplodok is the nickname for my daughter's favorite dinosaur, the diplodocus. I maintain independent creation : )

I would go about it in a days used fashion for the RV.

Perhaps standard mileage rate for the Tesla? Or if you go the actual method, you might get better deduction. Idk, since this is probably a hobby.