Question

LLC Mileage

Forum|Forum|4 years ago
March 18, 2022
1 reply
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My wife and I have a 2 member LLC (partnership). We use our personal vehicles for company deliveries. How is the mileage deduction handled in this situation? Can the mileage be listed as an expense of the LLC and deducted on the LLC's tax return?

TurboTax Business Windows

T

ThomasM125

Yes, you can deduct the auto usage cost. Just go through the Auto and truck expenses routine you will see under Business Expenses in the Business TurboTax product.

On the screen that says Enter Auto and Truck Expenses your would enter a new category called Standard mileage allowance, where is says Enter your own auto and truck categories, and enter your mileage allowance amount.

Then use the Forms option to bring up form 4562 Depreciation and Amortization and enter on line 30 to 33 the miles driven and answer the questions on lines 34 to 36.

@rrhodesrph

[Edited 3/17/22 at 7:52 PM PST]

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