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How to get deduction for mileage with an LLC

My wife and I started a 2 member LLC last year, 2019.  This is the first year that I have done a tax return for the LLC, so I have some questions.  We have Turbo Tax Business.  We are the only 2 members and I was wondering how we take the deduction for business use of our cars.  I know how many miles were driven in each of our cars for business.  The cars are not owned by the LLC, though.  Is there a way to take the standard mileage deduction on the business return or personal return?

Also, can we do a home office deduction?  If so, how?  Any help is greatly appreciated.

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1 Reply
KristinaK
Employee Tax Expert

How to get deduction for mileage with an LLC

Yes, you can. And you have two options:

 

1) On the partnership's return. Use the 2019 tax rate of $0.58 to calculate the amount for miles driven. Then enter it under Auto and Travel on your Form 1065. For the Home office, manually calculate what would have been your home office deduction if you were to use Form 8829 (do use the form to help you calculate the amount) and then enter that information on your Form 1065 under Other Expenses, describing the expense as Home Office. 

 

2) On your own individual tax return. Read more about it here. 

 

 

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