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Vehicle business mileage tax deduction?
So when I drive my vehicle for business, do I deduct the mileage traveled one way, or too and from?
5 Answers
- BobbieLv 77 years ago
Read the instruction very slowly and carefully to make sure that you are doing all this correctly at this time in your life.
Go to the www.irs.gov website and use the search box for Publication 463 and then go to chapter 5 for Recordkeeping
www.irs.gov/publications/p463/ch05.htm…
How To Prove Expenses
What Are Adequate Records?
What If I Have Incomplete Records?
Separating and Combining Expenses
How Long To Keep Records and Receipts
Examples of Records
If you deduct travel, entertainment, gift, or transportation expenses, you must be able to prove (substantiate) certain elements of expense. This chapter discusses the records you need to keep to prove these expenses.
You do have to QUALIFY to choose use the schedule A itemized deduction of the 1040 income tax return because your standard deduction amount for the 2013 tax year is 6100 and the above total amount is only 1900 during the 2013 tax filing season for this time and purpose in your life.
Go to the www.irs.gov and use the search box for Topic 501 Should I Itemize?
www.irs.gov/taxtopics/tc501.html
Hope that you find the above enclosed information useful. 01/02/2014
- CarVolunteerLv 67 years ago
It depends. In general the ride from and to your home are not deductible. The rest of the mileage during the day (from one business location to another, not going out for lunch) is.
- StephenWeinsteinLv 77 years ago
If you are driving from home or to home, then you don't deduct either direction.
You only deduct driving from one place that you work and don't live to another place that you work and don't live.
If you drive back to the first place that you work and don't live, then you deduct both directions.
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