Taxes and My Sold Vehicle: What Should I Do?

[mandydollie]

When I am working on taxes and it asks for the cost or basis of my vehicle, do I enter what I originally paid for my car? So many questions.... I don't even own the car anymore...we traded it right after the first of year. So, what should I do???

 

[cmdtrgd]

The way I understand it you can claim a portion of your car, gas, and maintenance on the car OR you can claim mileage. I'm lazy, so I claim the mileage. HTH

 

[mandydollie]

good idea... i think i'll just claim mileage... I entered that into PP after each show so that should be easy enough to figure up.

 

[supergirljennie]

Does everyone specify exactly their mileage or expenses? Such as, when using an online or CD program to file taxes, (I'm using taxact.com) when I am entering my various expenses, to the right it has a little icon, and when I click it gives spaces to enter specific dates and info.

Is it necessary to do that, or is generalizing all right?

 

[jenniferknapp]

Another question, I stop at different post offices all of the time to mail out PC packets, and I don't need to claim some of them since they are right on the way to something else...but can I still claim the mileage to and from the local one, since that trip is usually just for the PO?

 

[Jilleysue]

I work for a company with many accountants and they all have told me the same thing....claim the mileage to make it easier. The mileage makes it easier. It usallly covers everything and you get more in the end.

 

[Jennie4PC]

wheneer I do anything strictly for PC then I count the mileage een going to the PO