I have turbotax business and am trying to enter a work vehicle with a standard mile deduction under a rental property. I'm not seeing a place to enter this?
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When you go through the rental, the rental summary shows Vehicle Expenses. It will ask you questions regarding standard mileage first.
The program will ask you about taking actual mileage. If you used actual mileage the first year with the vehicle, you must actual expenses every year after.
I don't see it on turbotax business. See the image
There is not a separate line entry for vehicle expense for rental property on schedule E, as most landlords don't deduct it. But you can calculate the amount and enter it as a "general expense" by typing it in, in that section.
I have many rental properties should I enter the expense all on one property or split it between all the properties? Or is there a better way? Thanks!
Yes, it is more accurate to include the mileage that pertains to a rental on that property's expenses.
Enter the same vehicle information, and beginning/ending mileage (or total/commuting miles).
However, the actual business miles for each business would be different.
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