Form 2106 question

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Subject Author Date Form 2106 question sammy.finkelman 02-06-2007  Re: Form 2106 question bono9763@yahoo.com 02-07-2007  Re: Form 2106 question sammy.finkelman 02-10-2007
Posted by sammy.finkelman on February 6, 2007, 9:39 pm Please log in for more thread options What can you do if you have a good idea of the number of miles a vehicle was driven for business purposes, but not how many miles overall? Should you just use your best guess or is there a way to avoid the problem without losing a whole deduction? How do you determine valuie as of the date placed in service when the the date placed in service is when the vehicle was several years old? What if there is a sort of regular work location but that is not driven to on most days? Do you calculate the distance to the nearest stop and subtract that from total miles? << ======================================================= >> << The foregoing was not intended or written to be used, >> << nor can it used, for the purpose of avoiding penalties >> << that may be imposed upon the taxpayer. >> << >> << The Charter and the Guidelines for submitting posts >> << to this newsgroup as well as our anti-spamming policy >> << are at www.asktax.org. >> << Copyright (2006) - All rights reserved. >> << ======================================================= >> Posted by bono9763@yahoo.com on February 7, 2007, 7:48 pm Please log in for more thread options sammy.finkel...@relaynet.org wrote: > What can you do if you have a good idea of the number of > miles a vehicle was driven for business purposes, but not > how many miles overall? > > Should you just use your best guess or is there a way to > avoid the problem without losing a whole deduction? If you are claiming standard mileage rates, it's not so important what your total mileage is. This only becomes important if you are claiming actual expenses and need to calculate a percentage business use. Can you estimate total use based on odometer readings from when you had the car serviced? > How do you determine valuie as of the date placed in service > when the the date placed in service is when the vehicle was > several years old? There are several websites where you can estimate FMV of a vehicle, e.g. www.kbb.com > What if there is a sort of regular work location but that is > not driven to on most days? Do you calculate the distance > to the nearest stop and subtract that from total miles? If you travel between business sites during the day e.g. a salesman who makes sales calls, you cannot deduct mileage from your home to the first stop, nor from your last stop to your home. These are considered commuting miles. But you can count miles from one business stop to the next. If you are a construction worker, e.g., who travels to various work sites, but only one per day, this is not deductible unless you first report in to the main place of employment and then travel to the work site. A deduction is allowed for mileage from the main place of employment to the work site, but not miles from home to the first stop, nor back home after finishing work for the day. If neither of these cases applies, you need to post more info in order for us to evaluate your situation better. Dennis << ======================================================= >> << The foregoing was not intended or written to be used, >> << nor can it used, for the purpose of avoiding penalties >> << that may be imposed upon the taxpayer. >> << >> << The Charter and the Guidelines for submitting posts >> << to this newsgroup as well as our anti-spamming policy >> << are at www.asktax.org. >> << Copyright (2006) - All rights reserved. >> << ======================================================= >> Posted by sammy.finkelman on February 10, 2007, 6:05 am Please log in for more thread options SF> What can you do if you have a good idea of the number of SF> miles a vehicle was driven for business purposes Average number of miles per day multiplied by number of days worked (which can be quickly estaimated from total pay minus possibly some days that don't count for this) Trips to main place of business can also be estimated. Closest stop could also be estimated, if needed. SF> but not how many miles overall? SF> Should you just use your best guess or is there a way to SF> avoid the problem without losing a whole deduction? Dennis D> If you are claiming standard mileage rates, it's not so D> important what your total mileage is. This only becomes D> important if you are claiming actual expenses and need to D> calculate a percentage business use. Is depreciation - any kind of dereciation - only used when claiming actual expenses? D> Can you estimate total use based on odometer readings from when you had the D> car serviced? A gross ballpark estimate I supppose could be done. I have no idea if there are records or what days they would cover. There was extensive personal use of that car too, for driving around and also for periodic 125 miles (that's one way) trips. D> If neither of these cases applies, you need to post more D> info in order for us to evaluate your situation better. This was a home health care nurse. << ======================================================= >> << The foregoing was not intended or written to be used, >> << nor can it used, for the purpose of avoiding penalties >> << that may be imposed upon the taxpayer. >> << >> << The Charter and the Guidelines for submitting posts >> << to this newsgroup as well as our anti-spamming policy >> << are at www.asktax.org. >> << Copyright (2006) - All rights reserved. >> << ======================================================= >> Similar Threads Posted Where to deduct: Schedule C or Form 2106 April 5, 2008, 4:45 pm Re: 2106 Truck driver June 29, 2006, 12:15 am form 5498 Question June 3, 2006, 10:03 am form 5498 Question June 3, 2006, 10:03 am Tax Question - form 5498SA from Employer - HSA April 11, 2006, 3:50 am Estate Tax form 1041 question - Please help January 8, 2009, 10:44 pm Direct Deposit of refund (and form 8888) question February 5, 2007, 8:22 pm Form 4952 (investment interest expense deduction) question April 1, 2009, 3:25 pm IRS follies: form 56 fiduciary vs. form 8822 change of address April 21, 2008, 9:54 pm IRS form SS-8 Worker Determination Form April 9, 2009, 11:37 pm