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Updated over 9 years ago,
Flipping - mileage as cost basis?
I'm a relative novice investor but I have done several flips and currently have one rental. I do my own taxes but have always struggled with where/how to expense mileage to and from the properties I'm working on. I always use schedule D for the properties because I only do one or two a year plus I have a full time job in addition to the flipping. How should I account for the mileage? Is it added to the cost basis of the property? Thanks in advance for your help.