Question

Total miles and miles for rental property

Forum|Forum|1 year ago
September 4, 2024
1 reply
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There is total 6000 miles on my car in 2023. I have three rental properties, Total miles for rent purpose is 3000 miles - 1000 miles for each property. For each of the property, in the section of 'How do you want to enter your mileage for your ...', the entry Total miles driven for all purposes, should I enter 6000 miles or 6000/3=2000 miles?

A

Anonymous_

Employee

You can't split the miles between the properties (assuming they are equal)?

L

Lance10Author

But TurboTax asking Total miles and miles for rental property in each property input section. If my total miles in 2023 is 6000 miles, total miles for rental purpose are 3000 miles, please let me know which of the input below is correct, (method A is 17% miles used for rental, method B is 50% used for rental.

Method A:

Property 1: Total miles driven for all purposes: 6000

Miles driven for rental or royalty: 3000/3=1000

Property 2: Total miles driven for all purposes: 6000

Miles driven for rental or royalty: 3000/3=1000

Property 3: Total miles driven for all purposes: 6000

Miles driven for rental or royalty: 3000/3=1000

Method B:

Property 1: Total miles driven for all purposes: 6000

Miles driven for rental or royalty: 3000

Property 2: Total miles driven for all purposes: 6000

Miles driven for rental or royalty: 3000