Client is RE agent and mortgage broker. He also has a rental in S. CA (lives in N. CA). is considering doing some more RE selling in So CA. If he stores his RV in S. CA, and takes it out of storage when he is doing business in S. CA and uses it as lodging instead of getting a hotel room, what expenses can I take? I thought just rental space in the RV park for the days he is conducting business. If he drives it down there (keeps it in storage up here) just mileage and the space rental?
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RV expenses
technically speaking he could take depreciation, but figuring that out would be a real mess.ChEAr$,
Harlan Lunsford, EA n LA -
I find it hard to believe there could be a part of an RV that is used 'regularly & exclusively'. this isn't being bought to use only in the biz, but he is thinking of using it when down south. He also mentioned using it as an office if parked outside of a unit he is selling. Still can't think of anything besides actual expenses of the trip and nothing pertaining to the RV itself.Comment
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It has wheels and moves so it is not quite a home for all things. But because it has a motor it is a vehicle like any car or truck and not an in home office. You trieat it like anyother vehicle. And like any other vehicle you need to keep a milage log to support the business milage. With the price of gas the gallons per mile that an RV gets why would one want to use anything but actual expeenses?Comment
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And that
is where depreciation comes into play, if using actual expenses. In fact I'm not sure it wouldOriginally posted by gkaiseril View Post
qualify for standard mileage rate.ChEAr$,
Harlan Lunsford, EA n LAComment
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