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How Are You Tracking Miles for Taxes??

Discussion in 'Taxes' started by skytessa, Dec 12, 2016.

  1. Older Chauffeur

    Older Chauffeur Well-Known Member

    Location:
    Simi Valley Ca
    Update re TurboTax Deluxe at Costco- I haven't been to the local store to buy it yet, but saw it listed as $10 off the retail price of $59.95. I guess Intuit raised the price, because I looked, and I previously paid only $40 after the rebate.
     
  2. Drtraffic

    Drtraffic New Member

    Location:
    Florida
    Try MileTracker, it's totally free. I like it
     
  3. SortofRandom

    SortofRandom Member

    Location:
    Atlanta
    Driving:
    UberX
    I failed to keep a log of my odometer readings this year. (Trips + between trips = 30,000)
    Do I need to attach a log to my tax return if I'm claiming the standard mileage (54 cent) deduction for 2016?
     
  4. UberTaxPro

    UberTaxPro Well-Known Member

    Location:
    CT
    Driving:
    UberX
    A log isn't required to be sent with your tax return but it is required to legitimately take the deduction. In certain instances the IRS will accept a re-constructed log if you're challenged. There are strict restrictions as to how that log can be re-constructed but I suggest you start working on that right away. For now you should only deduct what you can prove.
     
    skytessa and Older Chauffeur like this.
  5. Mears Troll Number 4

    Mears Troll Number 4 Well-Known Member

    Location:
    Orlando
    Driving:
    Taxi
    The docs that uber sends will be good enough for documentation on a portion of your miles. (however many miles uber says you actually drove) The one i got last year was about 64% short of reality, but i'm in one of the worst markets for unpaid mileage.

    Reproducing your log is going to be a royal pain, and if you get audited the IRS may not accept it and you'll loose a lot of miles.
     
    skytessa likes this.

  6. Dback2004

    Dback2004 Well-Known Member

    Location:
    Davenport, Iowa
    Driving:
    UberX
    Logs are only used as evidence in an audit, you wont' submit them with your taxes. Check out my post on https://uberpeople.net/threads/question-about-milage.129876/#post-1911762 for how I track.
     
  7. Older Chauffeur

    Older Chauffeur Well-Known Member

    Location:
    Simi Valley Ca
    Another update- T/T Deluxe is on sale through January 29 for $39.95 after a $10 instant in store coupon. I bought it today and ran my self employment numbers with no problems.
     
  8. skytessa

    skytessa New Member

    Location:
    Los Angeles
    Hence why it's super smart to use an auto-tracker. I'm almost done with my case study between trackers. I'll post a link to the new thread when I'm done.
     
  9. skytessa

    skytessa New Member

    Location:
    Los Angeles
  10. So when is Uber suppose to send you the 1099 for 2016 ? or do i have to go to one of their Hub to get it? thx.
     
  11. Dback2004

    Dback2004 Well-Known Member

    Location:
    Davenport, Iowa
    Driving:
    UberX
    If I remember right last year they came out around January 30.
     
  12. NinjaBlack

    NinjaBlack Well-Known Member

    Location:
    All Over the Metro
    Driving:
    UberSELECT
    I have 3 businesses with Uber/Lyft one of the 3... I did 3 separate schedule C's but I use the same car for all 3. My issue is that in turbotax - it takes care of it fine listed 3 different miles totals except when I look at the personal miles it is wrong since it subtracts the business use and the total use to get the personal use... So there are 3 separate personal miles lists and they don't add to the total miles of the car - I can't decide if I should leave it or if I should go to the actual schedule C and over ride it?
     
  13. Older Chauffeur

    Older Chauffeur Well-Known Member

    Location:
    Simi Valley Ca
    I'm not a tax professional, but I would suggest overriding their numbers to make it as accurate as possible. In the unlikely event of an audit you would be able to explain your reason for doing so.
     
    UberTaxPro likes this.
  14. SortofRandom

    SortofRandom Member

    Location:
    Atlanta
    Driving:
    UberX
    I'm not a tax professional. If you have 3 businesses, I would think you would have a tax consultant. Good luck.
     
    UberTaxPro likes this.

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