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Returning Member
posted Jun 3, 2019 12:50:28 PM

Can an S Corp run a shareholders fuel cost thru the business if the shareholder owns the vehicle and only uses it for work?

I was told to use the business card for vehicle expenses even though I (shareholder) own the vehicle, is that allowed if I claim the mileage on my personal taxes

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1 Best answer
Expert Alumni
Jun 3, 2019 12:50:30 PM

I'll address your last comment first.  You won't be able to deduct your business mileage on your personal tax return in 2018.  TheTax Cuts and Jobs Act of 2017 (TCJA) eliminated the deduction for unreimbursed business expenses.  If you are only using the vehicle for business, using the company card for gas is acceptable.  A preferable way to handle it would be to submit your mileage and be reimbursed by the company for your mileage. 


1 Replies
Expert Alumni
Jun 3, 2019 12:50:30 PM

I'll address your last comment first.  You won't be able to deduct your business mileage on your personal tax return in 2018.  TheTax Cuts and Jobs Act of 2017 (TCJA) eliminated the deduction for unreimbursed business expenses.  If you are only using the vehicle for business, using the company card for gas is acceptable.  A preferable way to handle it would be to submit your mileage and be reimbursed by the company for your mileage.