No announcement yet.

Car Expenses

  • Filter
  • Time
  • Show
Clear All
new posts

    Car Expenses

    Client is an employee that gets reimbursed for the mileage he drives for his W2 job.
    Clien'ts second job is farming. He drives the same vehicle for both jobs. He gets mileage reimbursement for his W2 job, so does he have to also use mileage for the Schedule F mileage?

    If we are talking about the standard mileage rate:

    No, the 2106 is job specific for work and the Schedule F has it's own line for auto expenses. You would put the total vehicle miles on the Farm 4562 and just the business miles for the farm.

    If there are expenses on the 2106 above and beyond the reimbursed miles you report the same total miles, the business miles on the W-2 job only and the reimbursement. That way only the extra expenses for that job will appear on Schedule A. Or conversely, if he was paid too much for reimbursement, he would have taxable income.