Tax, SDIRAs & Cost Segregation
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated about 9 years ago,
Tax Question Mileage (Accountants help?!?)
Hi, I have a scenario I am hoping someone can assist me with for mileage deductions.
I live at Property A. I work at Corporation B (primary job and unrelated to real estate). All my mileage is typically showing clients properties (real estate agent and secondary job). I go from Corporation B to property often and have been keeping track of that as I believe there are no issues with that. My main question is going from my property I live at to a property to show a client the property. I do this as well and usually only show properties a few times a week. Would the home to a property count since the property is not my business and is merely me showing a client a property -- part of my secondary job and what I would think would be a temporary location since we likely won't ever visit it again.
I was also told to include mileage on schedule C as part of my income... I wasn't sure what was meant there. What specifically would be included on the schedule C and why would someone advocate for that?
Disclosure: I will hire an accountant before tax season -- just trying to stay ahead of curve in tracking my miles.