What’s new for your 2026 return
The IRS raised the standard mileage rate to 72.5¢ per business mile beginning January 1, 2026. If you want the option to use the standard mileage method in future years, you must choose it the first year a vehicle is placed in service; leased vehicles must stay on the mileage method for the entire lease term. Alternatively, you can deduct actual costs (fuel, repairs, tires, insurance, depreciation). Run the math both ways to see which yields the bigger deduction.
For meals on the road, transportation workers—including interstate truck drivers subject to DOT hours‑of‑service rules—can use the special federal M&IE per‑diem. For travel that begins in 2026, the transportation per‑diem is $80 per day inside CONUS ($86 OCONUS), and truckers can deduct 80% of that amount instead of the usual 50%. Keep records of days away from your tax home and prorate on departure/return days.
Big equipment purchases also look different this year. Section 179 expensing for tax year 2026 is indexed to $2,560,000, with a phase‑out beginning at $4,090,000 in total qualifying purchases; the SUV cap rises to $32,000. These limits apply to property placed in service in 2026 (business use must exceed 50%).
In addition, Congress restored 100% bonus depreciation for qualified property acquired after January 19, 2025, so owner‑operators and fleets can still write off the full remaining basis of tractors, trailers, and certain equipment in the first year (after any Section 179 election). Coordinate Section 179 and bonus carefully to match cash flow and taxable income.
Owner‑operator worksheet: common deductible categories
Use this checklist to organize receipts and settlement data before you see your tax pro. Not every line applies to every operation—claim only ordinary and necessary business expenses for your lane and equipment. (If you use the standard mileage method for a specific truck, don’t also deduct that truck’s actual operating costs.)
- Tractor and trailer: depreciation or lease payments; licensing, IRP, title, property tax.
- Fuel and DEF; fuel card fees; IFTA true‑up and permits; scales and tolls.
- Maintenance and repairs: shop labor, parts, PM service, fluids; tires and retreads.
- Insurance: liability, cargo, physical damage, bobtail/non‑trucking liability, occupational accident.
- Communications and tech: ELDs, GPS, dash cams, CB, mobile phone and business‑use data.
- Compliance and credentials: DOT physicals, drug/alcohol testing, TWIC, hazmat endorsement, driver files.
- Business services: dispatch, load boards, factoring, bookkeeping/tax prep, legal advice, bank/merchant fees.
- Travel: lodging; parking; showers; truck wash; laundry; per‑diem for meals (80% limit for DOT‑HOS drivers).
- Safety and supplies: PPE, work gloves, straps/chains/binders, tarps, dunnage, tools.
- Office and admin: home‑office (if you meet the “regular and exclusive use” test), software, postage, subscriptions.
- Interest on business loans; leasing interest; storage yard or terminal rent.
Recordkeeping that stands up in an audit
- Mileage logs: ELD exports, trip sheets, or app‑based logs to support either the mileage method or actual‑cost allocation across business/personal miles.
- Per‑diem substantiation: calendar of days/nights away from your tax home; prorate on first/last day; use the transportation rate consistently for the year.
- Equipment files: purchase agreements, placed‑in‑service dates, financing documents; keep Section 179 and bonus depreciation elections with your return.
- Separate business bank/credit accounts: keep settlement statements, invoices, and receipts organized by category.
Planning pointers for fleets
- Consider accountable plans for per‑diem so reimbursements stay nontaxable to drivers and fully deductible to the business; remind W‑2 company drivers that unreimbursed job expenses generally aren’t deductible.
- Time major capital purchases: blend Section 179 (subject to the 2026 limits) with 100% bonus to manage taxable income for the fleet and its owners.
- Set policy on mileage vs. actual: once a vehicle starts on standard mileage its first year, you can switch to actual later—but not vice‑versa. Lock this choice in at in‑service.
Bottom line: 2026 still offers robust write‑offs for trucks, trailers, and days on the road. Start with a clean worksheet, pick the right methods (mileage vs. actual; per‑diem vs. receipts; Section 179 vs. bonus), and document everything so your deductions roll through cleanly at tax time.
Editor’s note: We attempted to consult the “Owner Operator Truck Driver Tax Deductions Worksheet” referenced in the news tip, but the file was inaccessible at the time of review. The guidance above relies on current IRS rules and expert analysis to provide an equivalent, up‑to‑date checklist for 2026.
Sources Consulted: Internal Revenue Service (news releases, Publication 463, Revenue Procedure 2025‑32), Center for Agricultural Law and Taxation (Iowa State University), Associated Press.
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This article was prepared exclusively for truckstopinsider.com. For professional tax advice, consult a qualified professional.
