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pmandel2
New Member

I have multiple Schedules C (examples: Real estate agent, musician, others). I have one car that I use for all purposes. How do I allocate bus miles to the different C's?

 
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Accepted Solutions
DawnC0
Intuit Alumni

I have multiple Schedules C (examples: Real estate agent, musician, others). I have one car that I use for all purposes. How do I allocate bus miles to the different C's?

The vehicle is listed on each Schedule C that you are reporting miles for and the allocation is calculated the same on each Schedule C.  No business miles should overlap and the total mileage for the vehicle is the same number for all schedule Cs.   

Business #1 miles / total miles = % for business 1

Business #2 miles / total miles = % for  business 2

etc. 

https://turbotax.intuit.com/tax-tips/self-employment-taxes/standard-mileage-vs-actual-expenses-getti...

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3 Replies

I have multiple Schedules C (examples: Real estate agent, musician, others). I have one car that I use for all purposes. How do I allocate bus miles to the different C's?

Did you keep mileage logs for each business?
♪♫•*¨*•.¸¸♥Lisa♥ ¸¸.•*¨*•♫♪
pmandel2
New Member

I have multiple Schedules C (examples: Real estate agent, musician, others). I have one car that I use for all purposes. How do I allocate bus miles to the different C's?

MileIQ keeps track of every mile and lets me allocate to the individual businesses. Example: Music Performance 1283, Real Estate 2336.
DawnC0
Intuit Alumni

I have multiple Schedules C (examples: Real estate agent, musician, others). I have one car that I use for all purposes. How do I allocate bus miles to the different C's?

The vehicle is listed on each Schedule C that you are reporting miles for and the allocation is calculated the same on each Schedule C.  No business miles should overlap and the total mileage for the vehicle is the same number for all schedule Cs.   

Business #1 miles / total miles = % for business 1

Business #2 miles / total miles = % for  business 2

etc. 

https://turbotax.intuit.com/tax-tips/self-employment-taxes/standard-mileage-vs-actual-expenses-getti...

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