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Deductions & credits
People (e.g. your fiance) who receive money for personal property (e.g. automobile) rental can take a direct deduction of expenses (e.g.IRS mileage rate) on form 1040. That is, she will owe no income tax if you rent the car from her at a rate of 54 cents per mile and you get the deduction on schedule C.
May 31, 2019
6:12 PM