Partners use of a personal vehicle for business use?

Question

I used my personal vehicle about 35% for business use for a partnership. I was not reimbursed for any of this. How can I deduct this on my partnerships taxes? Can I use the standard mileage rate and deduct it on the Depreciation and Amortization form?

Answer 1

You can use the standard mileage rate and the computations on Form 2106 as documentation that you do not include with your return. But you report unreimbursed partnership expenses on Schedule E Part II Income and Loss from Partnerships and S Corporations. Your expenses must qualify according to the instructions in Schedule E.

Here are the instructions to Schedule E

http://www.esmarttax.com/help/FED/i1040SE.htm

Answer 2

Ninasgramma is on the money. It'll be on Schedule E Page 2 as UPE (Unreimbursed Partner Expense)

The WealthBuilder
Tax Specialist

Answer 3

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