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Updated almost 6 years ago on . Most recent reply

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Michael Coe
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Is Mileage expense/deduction claimed on 1065 or 1040?

Michael Coe
Posted

Hello, I procrastinated and now I beg the community for help. 

My wife and I formed a partnership LLC this year and bought our first property. I have filed the 1065 and did not include mileage expenses in the 1065 since the business did not reimburse my wife and I for all the travel we did to work on the unit. My assumptions were that on our 1040 somehow I would show that our home is the primary place of business and every trip we made to the unit counted for mileage expense. Then somewhere I would input the total mileage driven and multiply by 0.545 and bam here is a big deduction on our personal return. I just can't figure out how to actually do this. I'm also unsure if deducting mileage on personal return for business travel expenses was eliminated by the tax reform?

Can someone offer some guidance?  Hopefully the answer is not to amend the 1065.

Thanks for your time,

Mike

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Michael Plaks
#1 Tax, SDIRAs & Cost Segregation Contributor
  • Tax Accountant / Enrolled Agent
  • Houston, TX
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Michael Plaks
#1 Tax, SDIRAs & Cost Segregation Contributor
  • Tax Accountant / Enrolled Agent
  • Houston, TX
Replied

@Michael Coe

It's claimed on 1040 as UPE - Unreimbursed Partnership Expenses. Page 2 of Sch E.

  • Michael Plaks
  • Loading replies...