I have a few cars I rent on Turo. I am under the impression that i can not deduct the mileage that renters drive. Is that correct? I always assumed that ibn order to claim the mileage I would need to actually drive the car vs. renters driving the miles.
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If you have a "fleet" of cars you rent out to others to drive then you MUST use the actual expenses method and not the standard mileage rate.
how many different rental vehicles?
I've had up to 5 but does the number of cars matter if I only use them as rentals? I don't drive them personally. They are really only rentals that customers rent and drive. I didn't think there was a way for me to deduct the federal .625 per mile mileage deduction if I (or an employee) was not doing any of the driving. Am I wrong about that?
That was my assumption. I do not drive them personally. They are only rentals.
Since you don't drive any of them yourself then they are not considered a personal vehicle ... they are assets you rent out so you must use the actual expenses option even if you have less than the 5 mentioned ... https://www.irs.gov/publications/p463
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