I am in this situation now. I claimed depreciation on ONE of my three vehicles, so Turbo Tax listed mileage for all 3 of my vehicles on the form 4562, NOT on Schedule C part IV. Two different underwriters have told me they cannot credit any of that mileage back because it is not on the Svhedule C. This doesn't seem like something that can be "corrected", because the Schedule C clearly states NOT to put vehicle mileage on Section IV if you have to file a form 4562. I'm baffled that this filing instruction could be preventing thousands of self employed individuals who claim business mileage deduction and ANY depreciation from being able to credit their business mileage back for income qualifications on a mortgage. Anyone found a way through this?
