allkneese
-
Posts
2 -
Joined
-
Last visited
Posts posted by allkneese
-
-
If you are not deducting any of the vehicle expenses on the form 1065, calculate the mileage rate and deduct as an "Unreimbursed Partner Expense" as per instructions on Page E-8, re: line 28 of the 1040 instructions. Show as "UPE" on on Schedule E page 2 line 28(h). Just got it through audit with the IRS.
- 1
Standard Mileage Deduction in Partnership
in General Chat
Posted
Having the vechicle titled up in the partnership name complicates it. I had a similar situation and the partnership reimbursed the partner for expenses. The reimbursement was netted against the mileage deduction on Schedule E as explained above. Went through Audit, was looked at and argued about, but was accepted.