I have rental property and keep track of mileage for purposes like repairs, etc. I only want to take the standard cents per mile rather than listing an auto and keeping track of everything that entails. Do I enter this in the Expenses section under travel? If I try to enter it in Vehicle Expense they want oodles of information that isn't pertinent. Thank you in advance for responding.
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Unfortunately, yes, you must enter it in the Vehicle Expense section of the form. You will need a logbook. You can generally recreate a logbook using records that you did keep, as long as you have one so you can answer the question. If IRS audits you and wants to see it, you will have to provide it to them in order to take the deduction.
It is easier to use the standard mileage rate than taking actual expenses.
You are required to have a logbook if you take vehicle expenses and there is a checkbox on the form that you will have to answer a question for.
Yes, it will be considered travel/automobile expenses. Anytime you have auto expenses you are required to provide the miles driven for the year for all purposes, the miles driven for the rental property and the commuting miles, leaving the total "other miles driven" on the car which are personal miles and not deductible. You are to provide the information on the vehicle you drove for the purpose.
You can estimate your mileage. The IRS requires keeping a mileage log. Consider using your calendar to re-create a log from that.
If you plan to deduct your vehicle expenses, the IRS requires you to have proof to show how many miles you’ve driven. This could include a written mileage log book, a spreadsheet showing your mileage, or a mileage tracking app on your phone.
You aren't required to provide this to TurboTax, but it’s a good idea to keep records of all your mileage and expenses.
Thank you for your reply.
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