Is Mileage Deductible on My Truck when under contract I travel to the same location every day
My Partnership was contracted for service work that required me to be on site every day. This was a 120
mile round trip 5 days a week. So I am wondering if that allows me to file mileage.
You'll need to sign in or create an account to connect with an expert.
Yes, actual vehicle expenses are an allowed deduction as a Partnership Expense, if the partnership owns the vehicle.
Expenses include:
- Gas and oil
- Repairs and maintenance
- Insurance
- Vehicle registration/license fees
- Garage rent
- Auto lease payments
- Auto club membership
If this is your personal vehicle (not owned by the partnership), you may be able to deduct mileage on your personal tax return. The instructions for Form 1040, Schedule E, state that unreimbursed ordinary and necessary partnership expenses paid on behalf of the partnership may be deducted on Schedule E if a partner was required to pay these expenses under the partnership agreement. In this case, report your expenses on Schedule E (Partnership Income) as "Unreimbursed Partnership Expenses" (UPE). TurboTax will ask you about UPE, with follow-up entry at the end of the Schedule K-1 input.
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
coasttocoast
Returning Member
lily32
New Member
in Education
lcvincent
New Member
Be32
New Member
johns9kl
New Member