FIND THE ANSWERS

If i have put 30k of miles on my car for work purposes can i itemize it on my taxes?

Answer this question

  • If i have put 30k of miles on my car for work purposes can i itemize it on my taxes?


Answers

Answer #1 | 14/12 2013 19:49
Yes but make sure to keep very accurate records. Don't forget that so called commuting miles (Home to work & back) are usually not deductible.
Answer #2 | 14/12 2013 20:16
You can if you keep a log of your miles, and they weren't just driving from your home to work and back.
Answer #3 | 14/12 2013 21:00
If you already itemize and have enough expenses. The first 2% of your agi is not deductible. Your itemized expenses must be more than your standard deduction.
Answer #4 | 15/12 2013 12:43
if you keep a contemporaneous log of your business miles yes, if you use Sch A and itemize, yes under Misc
Answer #5 | 16/12 2013 09:43
IF you itemize, and IF your employer doesn't pay mileage, and IF you kept a log of the miles, and IF your unreimbursed expenses are more than 2.5% of your AGI, sure.
Answer #6 | 16/12 2013 09:29
Use Form 2106 to calculate your deduction then transfer that number to the miscellaneous deduction section on Form 1040 Schedule A. That much mileage will generate a deduction of $16,650 minus 2% of your adjusted gross income. That is more than the standard deduction amount so gather up any other itemized deductions you have and add them in.

Possible answer