ThomasM125
Expert Alumni

Get your taxes done using TurboTax

You can treat the loan payments and gas/repairs as auto expense reimbursements to yourself . The best thing to do would be to complete an expense report to calculate the allowable vehicle expense based on the standard mileage allowance ($0.67 per mile in 2024). The amount of any reimbursements in excess of that amount would not be deductible.

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