Question

Miles Reinbursement for for a Vehicle owned by one of the partnership Member

Forum|Forum|6 years ago
February 5, 2020
1 reply
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Hello,

I am filling the taxes for my multi-member LLC, and we used a pick up truck owned by the other member to drive to all the works. I am trying to add a miles reimbursement expense for the company but I don't find where to fill it since it is a vehicle owned by a member and not by an employee.

Would this be the best way to add the miles deduction since the vehicle is not directly owned by the LLC?

Thank you.

TurboTax Business Windows

D

DianeC958

The deduction would be for the miles driven. Take the log kept on the number of miles driven during the year and multiply that number by 58 cents per mile. That is the amount you can deduct for automobile expense.

You need to have a log showing the date, number of miles and business purpose that you keep with your records.

Link to more information about Standard Mileage vs Actual Expenses

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