I was wondering if I am allowed to claim vehicle milage for my vehicle that is not registered under my name. It is registered under my mothers name. However my vehicle business miles are significantly more than the vehicle expenses so I am hoping to be able to go the milage route. Thanks!
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Since the standard mileage rate includes a portion representing the depreciation you cannot use it on a vehicle you do not personally own. Using mom's car is the same as leasing it so you must use the actual expenses option.
For the schedule C mileage deduction for self-employed persons, ownership of the vehicle used for business is not a requirement, only the ability to be able to document the mileage (usually with a trip log that shows the date. start and end mileage, and reason for the trip) is necessary.
For the schedule C mileage deduction for self-employed persons, ownership of the vehicle used for business is not a requirement,
Did you pull one of my stunts and get things backwards maybe? According to Tax Topic 510:
To use the standard mileage rate, you must own or lease the car
and there's a number of other requirements under that, which do not apply to this post.
Since the standard mileage rate includes a portion representing the depreciation you cannot use it on a vehicle you do not personally own. Using mom's car is the same as leasing it so you must use the actual expenses option.
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