Stupid question about mileage

[MrEen]

I'm sure the answer to this would be obvious if I had tax docs in front of me. At the moment I don't have anything handy, and I believe new members might benefit knowing this in advance so:

Where would you enter the deduction for mileage? I know this will vary depending on how you set things up, but assuming a small mom and pop biz, would this be a Schedule C item, or what?

I'm just a little nervous that it would require itemizing on the 1040, which has never been better than the standard deduction for us, thus far (so have never been able to claim charitable donations.)

Thanks for looking,

Scott

[alyssamma]

Go to www.irs.gov and get the Sched C instructions. However, the short answer is Line 9

Kevin

[g_r_vending]

IS there a MAX mileage you can claim for the year??

[alyssamma]

Not that I am aware of. I suppose if you claim 100K mi you are setting off some red flags that might get you a visit from Uncle Sam.

However, so long as you keep accurate records, you should be fine with whatever you claim.

Kevin

[MrEen]

Go to www.irs.gov and get the Sched C instructions. However, the short answer is Line 9

Kevin

Thank you very much Kevin! You absolutely OWN this section of the forum!

Scott

[alyssamma]

LOL, np

[mission vending]

Not that I am aware of. I suppose if you claim 100K mi you are setting off some red flags that might get you a visit from Uncle Sam.

However, so long as you keep accurate records, you should be fine with whatever you claim.

Kevin

I use a daily stop log not only for mileage but to track what locations have been serviced and when. Just use start and end mileage readings. That is more than enough documentation according to my accountant.