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Updated about 6 years ago, 09/11/2018

User Stats

34
Posts
14
Votes
Preston C.
  • Rental Property Investor
  • KS/MO
14
Votes |
34
Posts

Travel Expenses and Mileage for Taxes

Preston C.
  • Rental Property Investor
  • KS/MO
Posted

Sorry if I post this in the wrong section or if it's been posted about before (I couldn't find much on the topic), but I am wondering how others with rental property keep track of travel expenses related to managing a rental property. I found a template online for excel that I use to record my income and expenses and it has a section to track mileage and multiplies your mileage by whatever the allowable rate is for business travel ($0.535 cents last year). I've used a local tax service business previously to prepare my taxes and they said they just need the mileage related to rental expenses. So I'm guessing they did the same thing and just deducted it themselves. 

I was just wondering what others do when preparing their taxes and how you may record your miles or expenses related to travel?