Mileage Log

[Kurly]

Good Mornin:

Can anyone tell me where it states (IRS) that the mileage log must contain odometer readings per trip. Like if you take trips to 3 different clients in one day.

thanks

Kurly

[solomon]

Good Mornin:

Can anyone tell me where it states (IRS) that the mileage log must contain odometer readings per trip. Like if you take trips to 3 different clients in one day.

thanks

Kurly

How would you determine mileage without the odometer - you could use mapquest - but you must record the business purpose as well.. The rules of substantiation including listed property can be found in §1.274-5T(c).

[Gretel]

I always use my day reader, which I set to zero when I start on a trip. I am also wondering if I better record the actual odometer reading.

[Burke]

A record of the odometer reading at beginning and end of year may be required on audit, as you must list total miles driven for the whole year as well as business miles (required for percentage ratio.) You can document that by inspection sticker receipts or car repair invoices that will show this. Have your oil changed on 12/31 each year, for instance. Your own notation in a log is usually accepted. An auditor can and may still require outside verification.