You'll need to sign in or create an account to connect with an expert.
Sometime, service records and oil change records can give you accurate tallies of the total miles drive.
However, if you're using the standard mileage method (54 cent per mile for 2016), a completely accurate total mileage doesn't make a difference in your taxes and shouldn't with the IRS.
The actual expense method is different though. Actual Expenses method of deducting your car for work is based on the expenses you actually incur in the operation of your vehicle. It includes things like:
· gas purchases
· repairs
· oil changes
· tire purchases
· car washes
· insurance
· and even vehicle depreciation
Here, you can only claim the percentage of expenses that apply to the business use of your vehicle. To compute this, you must know how many miles you drove for business purposes and how much you drove total for the year..
Sometime, service records and oil change records can give you accurate tallies of the total miles drive.
However, if you're using the standard mileage method (54 cent per mile for 2016), a completely accurate total mileage doesn't make a difference in your taxes and shouldn't with the IRS.
The actual expense method is different though. Actual Expenses method of deducting your car for work is based on the expenses you actually incur in the operation of your vehicle. It includes things like:
· gas purchases
· repairs
· oil changes
· tire purchases
· car washes
· insurance
· and even vehicle depreciation
Here, you can only claim the percentage of expenses that apply to the business use of your vehicle. To compute this, you must know how many miles you drove for business purposes and how much you drove total for the year..
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
ibroker
New Member
Fisher97
Returning Member
Rockhoundrob
Level 2
nm123456789
New Member
jeff241
Level 1
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.