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Truck driver tax deductions worksheet (free printable PDF)
Short answer: This free one-page worksheet collects the year totals your tax preparer needs from a leased owner-operator: income from your settlement sheets, every carrier deduction line added up for the year, the truck costs you paid yourself, and the records preparers usually ask for. It organizes your records; your tax preparer decides which costs count as deductions.
What's on the worksheet
| Part | What you fill in | Where the numbers come from |
|---|---|---|
| 1. Income | Gross settlement pay, the 1099 your carrier sent, reimbursements, interest on escrow, other business income | Your last settlement sheet of the year and the 1099 itself |
| 2. Carrier deductions | Insurance, fuel card, plates and permits, tolls and ELD fees, truck payments through the carrier, other charges, plus escrow and advances shown separately | Every settlement sheet, each line added up for the year |
| 3. Costs you paid yourself | Fuel off the carrier card, repairs and tires, truck loan interest and principal, insurance, Form 2290 and licenses, phone and apps, parking and supplies | Bank and card statements, invoices, the lender's year-end statement |
| 4. Records to have ready | Nights-away log, truck purchase or sale papers, miles by month, estimated tax payments, year-end statements | Your logs, ELD reports and statements |
Each line has a box to tick when you have the document that backs it up. The IRS says business records "must support the income, expenses, and credits you report," so a total with no document behind it isn't finished.
How to fill it in from your books
- Reconcile first. Every bank and card account should agree with its December statement before you copy any totals. (The monthly checklist covers this.)
- Income: copy the year-to-date gross from your last settlement sheet, then the amount on your carrier's 1099. If they differ, note why; your preparer will ask.
- Carrier deductions: if your books record settlements at gross with each deduction in its own account, your profit and loss report already has these totals. If not, add up each deduction line across the year's sheets.
- Your own costs: pull them from your profit and loss report by category, or total them from your bank and card statements.
- Truck loan: use the lender's year-end statement for the interest and principal you paid. They're two different numbers.
- Bring the worksheet and the documents to your tax preparer.
Leased owner-operator traps the worksheet keeps separate
- Escrow isn't a cost in your books. It's money the carrier holds that still belongs to you, so the worksheet asks for the balance, not a total spent. (How escrow works.)
- Repaying an advance isn't a new cost. It pays back money you already received, so it's listed apart from the carrier's charges.
- Your 1099 is bigger than your deposits. The carrier reports gross pay before its deductions, and the deductions are the gap. (Why the 1099 is bigger.)
- A truck payment is two numbers. Only your lender's statement splits interest from principal accurately.
- Personal spending on a business card gets its own note, so it doesn't land in a truck-cost total.
Per diem and nights away
If your preparer uses the transportation industry's meal allowance, the IRS still expects records of your travel. Publication 463 says that even with the standard meal allowance, "you must still keep records to prove the time, place, and business purpose of your travel." The worksheet's nights-away line is there for that log. The current rates are on our per diem page, and the per diem calculator does the day count.
What this worksheet doesn't do
It doesn't decide which costs count as deductions, which form or line anything goes on, or how a truck purchase is handled on your return. Those are your tax preparer's calls. It gives them clean, documented totals, which is what bookkeeping is for. Want to track all this through the year instead of at year-end? Use the free owner-operator expense spreadsheet.
Not sure where your books stand? Tell us in two lines how you keep your books now and how far behind they are. We'll set up a short call, tell you free what shape they're in, and quote a fixed price to get them current.
Get a free books check See pricingCommon questions
Is this a list of what truck drivers can deduct?
No. It's a records worksheet: year totals for your income, carrier deductions and truck costs, with the documents that support them. Your tax preparer decides which costs count as deductions and where they go on your return.
Who is this worksheet for?
Leased owner-operators paid by settlement sheet. Company drivers paid on a W-2 have different rules; ask your tax preparer.
Where do I find my carrier deductions for the year?
On your settlement sheets. If your books record each settlement at gross with each deduction in its own account, your profit and loss report shows the year totals. Otherwise add up each deduction line across the year's sheets.
Why does the worksheet ask for escrow separately?
Escrow is money your carrier is holding that still belongs to you, so in your books it's an asset, not a cost. The worksheet asks for the year-end balance. How escrow is treated on your return is a question for your tax preparer.
Is it free?
Yes. The PDF is free to download and print, no email required.
Sources: IRS Publication 583, Starting a Business and Keeping Records (revised December 2024), Recordkeeping; IRS Publication 463, Travel, Gift, and Car Expenses (for 2025 returns). Checked November 1, 2026.