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Gunner 22
Returning Member

Form 4562 line 26 and 27

Purchased a 2017 truck in September.  Used 100% for business. I entered 1469 miles as total miles and business miles. TT puts it on line 27 at 33.33% . What am I doing wrong ???

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3 Replies
Vanessa A
Employee Tax Expert

Form 4562 line 26 and 27

Double check your numbers to be sure there is not a typo  in the numbers.   When you get to the question of How much do you want to deduct for the business use of this vehicle does it say your business use percentage is 100% or does it say something else?

If it does not say 100% and you cannot find where the error is coming from you can delete the vehicle and re-enter it, paying extra attention to the mileage entries to be sure they are in the correct boxes.  That the total miles are in the top box and miles driven for business are in the next box with commuting miles left blank. 
 

 


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Gunner 22
Returning Member

Form 4562 line 26 and 27

Vanessa thanks for the help.  I deleted the vehicle for the third time and finally got the page whwhere you select the percentage, I did not get that before .  I am using this truck for rental properties that I have. I am splitting the cost of the vehicle by 11 for each of the properties and schedule Es. I have to put total mileage for each property at 1469 to get the 100%.  Do you have any suggestions?

Form 4562 line 26 and 27

Go back through the vehicle questions and look for the one that asks if you kept track of personal miles.  Say YES.

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