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tlrw1419
New Member

Can I deduct miles driven to auctions or stores where I procure my products to sell?

We are a resale business and were wondering if we can write off the mileage driven to auction and stores to procure the items we sell? And do we get to write the mileage off if we personally delivered an item?

1 Best answer

Accepted Solutions
MichaelL1
Level 15

Can I deduct miles driven to auctions or stores where I procure my products to sell?

Yes, you can as long as it is incurred to make money.

IRS allows business deductions for ordinary and necessary business expenses.

The standard mileage rate for 2016 is 54 cents a mile. 

EDITED to add three pictures to show where to enter the Vehicle expenses. 

Last picture is for a 1065 return, first three were for Home & Business.

You click on Federal Taxes, then sub-heading Deductions, then go down the screen to Auto Expenses.  I have highlighted the areas in yellow.

View solution in original post

12 Replies
MichaelL1
Level 15

Can I deduct miles driven to auctions or stores where I procure my products to sell?

Yes, you can as long as it is incurred to make money.

IRS allows business deductions for ordinary and necessary business expenses.

The standard mileage rate for 2016 is 54 cents a mile. 

EDITED to add three pictures to show where to enter the Vehicle expenses. 

Last picture is for a 1065 return, first three were for Home & Business.

You click on Federal Taxes, then sub-heading Deductions, then go down the screen to Auto Expenses.  I have highlighted the areas in yellow.

tlrw1419
New Member

Can I deduct miles driven to auctions or stores where I procure my products to sell?

Thank you!
tlrw1419
New Member

Can I deduct miles driven to auctions or stores where I procure my products to sell?

Where do these go under on the form?
MichaelL1
Level 15

Can I deduct miles driven to auctions or stores where I procure my products to sell?

In the Business section you will see three areas for business expenses:  the first one is Business Vehicle Expenses.  Let me know if you do not see it yet and I can post a picture for you.  thank you .
tlrw1419
New Member

Can I deduct miles driven to auctions or stores where I procure my products to sell?

I do not see it, and that would be great!
MichaelL1
Level 15

Can I deduct miles driven to auctions or stores where I procure my products to sell?

see above in answer
tlrw1419
New Member

Can I deduct miles driven to auctions or stores where I procure my products to sell?

Thank you but my turbotax business does not look like that
MichaelL1
Level 15

Can I deduct miles driven to auctions or stores where I procure my products to sell?

Sorry, are you doing a 1065?  1120? 1120S?  I can find that also.
tlrw1419
New Member

Can I deduct miles driven to auctions or stores where I procure my products to sell?

1065
MichaelL1
Level 15

Can I deduct miles driven to auctions or stores where I procure my products to sell?

OK give me a moment and I'll put in some pictures for a 1065
MichaelL1
Level 15

Can I deduct miles driven to auctions or stores where I procure my products to sell?

look above now in question
tlrw1419
New Member

Can I deduct miles driven to auctions or stores where I procure my products to sell?

Thank you so much, that is it

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