Regards,
Just an FYI for those using a mileage deduction on your tax return for 2022.
The IRS allows the following mileage deduction for using a personal vehicle for business purposes:
January 1 through June 30, 2022 = 58.5 cents per mile
July 1 through December 31, 2022 = 62.5 cents per mile
@partfinds wrote:
maybe what I wrote should be deleted not to confuse anyone. What is confusing so I can report it to mod?
@partfinds At this point it may not make a lot of sense to try to get that one deleted since it has become part of the overall flow of this thread. I would leave it stand as is. There is enough follow up from us that I think it will be a none issue. Has you simply stated your deduction via the expenses path was the amount you shared I suspect most of this thread would not have happened ... but to me it wound up having some good info displayed ...
@buyselljack2016 wrote:
@mr_lincoln wrote:Just an FYI for those using a mileage deduction on your tax return for 2022.
The IRS allows the following mileage deduction for using a personal vehicle for business purposes:
January 1 through June 30, 2022 = 58.5 cents per mile
July 1 through December 31, 2022 = 62.5 cents per mile
As my vehicle is not "dedicated" to my eBay business usage those rates are what I use.
I left a break in my ledger with room to add up the Jan-Jun miles.
@buyselljack2016 In basic terms when using the mileage deduction one keeps track of the odometer readings from the beginning of the year to the end of the year (total miles driven) and then keeps track of just the miles they drive for their eBay or other businesses and report those miles as the deduction. We have more than one vehicle so some adjustment is done to reflect and document the mileage driven for TWO eBay accounts and other sales activity.
