Rental Property Vehicle Deductions and Taxes

[Steve Salvatore]

I use TurboTax to do my rental property taxes on multiple properties. My properties are within a 1 mile radius, but I'm spreading trips across multiple properties. Is it a better strategy to record all mileage against one property? I sold my van this past year and bought a replacement, so taxes are pretty complex when calculating the depreciation for this year. It seems that TurboTax handles my one car as if it is a different car for each property. What is the best legal strategy to use for recording the mileage?

[Sylvia B.]

My accountant allocates shared expenses to the property with the greatest profit. Auto expenses are one example, others are: fees paid to accountant, tools/supplies used for more than one property, advertising not related to a single property, office supplies, etc.