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ncsu

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Posts: 14
Reply with quote  #1 
I live in NC and have an S-Corporation. I understand that the only way to get reimbursed for mileage is have my corporation write me a check for the mileage I have driven. I assume I will use the IRS rate of .55/mile. Since I bought 5 lots and setup 3 mobile homes on this property, I assume I can add up all the mileage I have driven looking at different mobile homes, trips to collect rent, trips to Lowes, Home Depot, etc.

Can anyone confirm that this is correct?

Thanks!
OHlandlord

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Posts: 3,748
Reply with quote  #2 
Commuting miles are not counted.  You can count mileage from the rental to the store and back, but not from your home to the rental.  If you have an established office, you can count the mileage from there to the rental.  The office must be established, must be a real office where people can come, just having a computer in your home would be denied if audited. 


Radhika

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Posts: 3
Reply with quote  #3 
Hello everybody,
nice tips over there. its really interesting..

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