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How do I calculate mileage on my tax return?

Posted by admin on Jul 5th, 2009
tax return
toocool4skool asked:


i run a small home biz and this is my first year to file tax as such. i don’t have all the gas receipts properly and even worst i don’t have a mileage log either. as long as i can in some way include reasonable mileage on my tax return i don’t mind even if it could be less than actual miles. so,

1-what’s the current figure for miles deduction provided by irs?

2-how do include that on my return?
p/s
i can pull most of the gas payments from my bank statement except for cash paid ones. would that be considered a legitimate record if i can provide my bank statement for this purpose?

5 Responses

  1. #1 Up your Maslow

    With the data you have, anything you claim will be fraudulent.

  2. #2 bostonianinmo

    Since you have neither receipts nor written records kept at the time you used your car for business, you get NO deduction! Zero! Zip! Nada! Op-te!

    Start keeping proper records and THEN you can take the deduction for vehicle expenses.

    Receipts alone are NOT enough. You need a mileage log, kept at the time you drive the car, to substantiate business use vs personal use. No log means NO deduction. Period!

  3. #3 Hazel

    if you put your gas on a card, u can pull it up by calling the co for a year end run down of everything you bought. Make your mileage log now, maybe your calender could help. Try to rememer what days you went around and pull up the mileage on a computer map….44.5 cents per mile for 2006

  4. #4 STEVEN F

    Keeping a mileage log is not hard. A cheap notepad and a pen are all you need. Just keep it in the car and write down the odometer reading and purpose of the trip every time you drive. You can even mount the pad on the dash if you want.

    Without the mileage log, you can take the deduction even with receipts. The log is the only record of personal vs business use.

  5. #5 Cristina I

    I suggest you to go and talk with an accountant.
    Also depends on your business status, if is a sole proprietorship, partnership etc.
    Best advice talk with professional people who can really help you with this.

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