Standard Mileage vs Actual Cost

[Unregistered]

I'm confused with the standard mileage vs the actual cost. I'm using standard mileage and recording trips to the store/groceries/bank exc. Am I able to claim the car loan interest & car property tax?

[Blackcat31]

More threads on mileage:

https://www.daycare.com/forum/tags.php?tag=mileage

Tom Copeland's website articles about mileage:

http://tomcopelandblog.com/?s=mileage&x=0&y=0

[TomCopeland]

car

I'm confused with the standard mileage vs the actual cost. I'm using standard mileage and recording trips to the store/groceries/bank exc. Am I able to claim the car loan interest & car property tax?

If you use the standard mileage method you can claim $.54 per mile for 2016 and $.535 for 2017. You can also claim parking, a portion of car loan interest and property tax, and tolls, and ferries.

[Unregistered]

If you use the standard mileage method you can claim $.54 per mile for 2016 and $.535 for 2017. You can also claim parking, a portion of car loan interest and property tax, and tolls, and ferries.

A portion of the car loan interest and property tax would be time/space, correct?

[TomCopeland]

car expenses

A portion of the car loan interest and property tax would be time/space, correct?

No. Divide the number of business miles by the total number of miles you drove the car.
2,000 business miles divided by 10,000 total miles = 20%