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The Right Way to Track Miles for Tax Purposes
Hey all you cool real estate people,
I searched on something that I thought was an obvious question to no avail finding an answer.
I'm trying to figure out how to track miles for tax deductions. The biggest thing I'm trying to figure out, do I count the miles coming back from my rental property after going out there for maintenance?
My property is 20 miles away, I am going out there for maintenance straight from my home, after I do the work, I am headed straight back to my home. Does that mean I mark in my log I traveled 40 miles that will be used for the deduction (there and back) or do I log only 20 miles (there and that is it)? The internet cannot seem to address this one question.
Thanks!