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Investors & landlords
No, it is not wrong. The miles for Property 1 was 61/1746 which would be 3.49%. This means 96.51% of your miles driven were NOT driven for Property 1.
The miles for Property 2 would be 241/1746 which is 13.8%. This means 86.2% of your miles driven were NOT used for property 2.
It doesn't matter what the rest of the miles were driven for, it only matters that they weren't driven for that particular property. So basically, if you spent $1,000 on the vehicle for the 1,746 miles that you drove. 3.49% of that or $34.90 would be allocated to property 1 and $138.80 would be allocated to property 2. If you had no other rentals, then the other 82.7% would not be deductible. If the other 82.7% was allocated to property 3, then property 3 would get the $820.70 deduction.
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