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End of the year mileage? I used two different cars, borrowed one for rideshare. Does end of the year mean when I stopped using this car for rideshare & regular work?

I am referring to the car I borrowed before I bought a new car. With the borrowed car, I used it for rideshare and regular work commute. I stopped using it completely when I bought a new car. So does end of the year mileage mean at that point I stopped using it or the actual mileage at the end of the calendar year even if I stopped using it well before the end of the calendar year?

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3 Replies
PatriciaV
Employee Tax Expert

End of the year mileage? I used two different cars, borrowed one for rideshare. Does end of the year mean when I stopped using this car for rideshare & regular work?

It depends. If you stopped using the vehicle entirely, you would use the ending mileage when you stopped using it. But if you continued to drive the vehicle the rest of the year, enter the odometer reading at the end of the year.

However, if you choose to enter "miles" instead of odometer readings, you can enter the total miles for the period you used the vehicle for business. The miles you drove for business determine your mileage deduction (53.5 cents/mile) for the vehicle.

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End of the year mileage? I used two different cars, borrowed one for rideshare. Does end of the year mean when I stopped using this car for rideshare & regular work?

What if someone else drove the vehicle after I completely stopped driving it? Does that change the ending mileage?
PatriciaV
Employee Tax Expert

End of the year mileage? I used two different cars, borrowed one for rideshare. Does end of the year mean when I stopped using this car for rideshare & regular work?

If you are claiming the standard mileage deduction, it doesn't matter. As long as you enter the business miles, you will get that deduction. But if you are claiming actual expenses, you want to be sure you end up with an accurate percentage of business use (business miles / total miles). See which works best for you.
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