If you have an LLC Partnership, any expenses you incur, including the $.40/mile will be included on the 1065 Partnership return.
In order to file the Partnership return, you would need to use TurboTax Business.
The mileage reimbursement will then be entered by:
- Federal Taxes
- Deductions
- Scroll down to Compensation and Benefits
- Click start next to Employee compensation and benefits
This reduction in income will be reflected on your K-1 that you will enter on your personal tax return.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
