CatinaT1
Employee Tax Expert

Get your taxes done using TurboTax

The IRS treats every vehicle in your business independently. Your choice to use the Standard Mileage Rate for your personal vehicle does not "lock you in" to that method for any other vehicle you use. 

 

For your personal vehicle you will continue to track and report miles.

 

For a rental car, you track and report the actual dollars spent. It doesn't matter how long the rental was for. You deduct the actual rental fees + gas + tolls + parking. You cannot take the standard milage rate for a rental because that rate includes depreciation and you can't depreciate something you don't own. 

 

When you enter your Rental Car expenses, you can enter this as a Travel Expense OR Other Common Business Expenses. 

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