The company deducts the expenses related to the truck because it belongs to it. However, your spouse’s personal use of a company vehicle is a taxable fringe benefit. The amount usually is reported as such on Form W-2. There is nothing for your spouse to deduct…the company deducts the business driving and there’s no deduction for personal commuting.
A statutory term used to figure your profit or loss on a sale or exchange. Generally, it is sales proceeds plus mortgages assumed or taken subject to, less transaction expenses, such as commissions and legal costs.