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jshirey40
New Member

Claim millage on loaner car

My vehicle in shop for three months.  Dealership gave me loaner vehicle to use. I used this vehicle in my business during time my vehicle was being repaired.

How do I write off the miles used in business on the loaner car?

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1 Reply

Claim millage on loaner car

You can't use the standard mileage method for a vehicle you don't own.  You can only use the exact expense method.

You need to know the total miles driven, the # of business miles, and the amounts you spent on gas, repairs, maintenance, and the rental fee if any. You can deduct the percentage of your actual costs corresponding to the percentage of business miles driven.

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