Sign Up

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
cancel
Showing results for 
Search instead for 
Did you mean: 
Mobilemarine
New Member

Can a partnership llc claim the standard mileage rate reimbursed to a member? Where is it entered on the 1065 do not see a spot?

Under business expenses, there is not a spot for reimbursed mileage.  Do I have to type in my own description?  It is a common expense, isn't it?

1 Best answer

Accepted Solutions
Rick19744
Level 11

Can a partnership llc claim the standard mileage rate reimbursed to a member? Where is it entered on the 1065 do not see a spot?

It is a very common expense.  Just input your own description "auto mileage" or something similar.

Do you have an accountable reimbursement plan?  This is where the member or employee must provide you with a record or receipt for the expense (or mileage in this case) and you then cut them a check?

*A reminder that posts in a forum such as this do not constitute tax advice.*

View solution in original post

3 Replies
Rick19744
Level 11

Can a partnership llc claim the standard mileage rate reimbursed to a member? Where is it entered on the 1065 do not see a spot?

It is a very common expense.  Just input your own description "auto mileage" or something similar.

Do you have an accountable reimbursement plan?  This is where the member or employee must provide you with a record or receipt for the expense (or mileage in this case) and you then cut them a check?

*A reminder that posts in a forum such as this do not constitute tax advice.*

View solution in original post

garcebe
New Member

Can a partnership llc claim the standard mileage rate reimbursed to a member? Where is it entered on the 1065 do not see a spot?

Is there a standard cost per mile? How much can I pay? Just providing a mileage log sheet is sufficient for auditing purposes?
Rick19744
Level 11

Can a partnership llc claim the standard mileage rate reimbursed to a member? Where is it entered on the 1065 do not see a spot?

See the attached IRS documentation:
<a rel="nofollow" target="_blank" href="https://www.irs.gov/tax-professionals/standard-mileage-rates/">https://www.irs.gov/tax-professionals...>
<a rel="nofollow" target="_blank" href="https://www.irs.gov/taxtopics/tc510.html">https://www.irs.gov/taxtopics/tc510.html</a>
<a rel="nofollow" target="_blank" href="https://www.irs.gov/uac/car-and-truck-expense-deduction-reminders">https://www.irs.gov/uac/car-and-t...>
*A reminder that posts in a forum such as this do not constitute tax advice.*
Dynamic AdsDynamic Ads
Privacy Settings
v