I sold an investment home. Other than recording proceeds, cost basis, adjustments (closing costs and realtor fees), where do I record the business expenses of my personal vehicle mileage to and from home when "flipping it" (i.e. repairs) and the toll fees?
I have looked at form 8949 and there's a single adjustment column which currently reflects my closing costs and the realtor fees. But, again, I am wanting to know where to record the vehicle mileage and toll fees?
-- Should this also be reflected in the adjustments on 8949 ...OR
-- Should I enter a business for the house flipping and record the expenses of the mileage and toll fees there?
Thanks,
Helen
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It depends. See if these detailed prior discussions in this volunteer forum give you the info you need. If not ask again.
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