Deduction for Mileage?

Mike Alexander mta at umich.edu
Sat Jan 2 23:48:14 EST 2010


--On January 2, 2010 5:34:18 PM -0800 Don Quixote de la Mancha 
<quixote at dulcineatech.com> wrote:

> The US IRS allows a deduction of 55 cents per mile for business use
> of a car.
>
> Is there a way to account for this by entering the miles directly,
> then having GnuCash figure the deduction?
>
> Now it would work for me to just multiply the miles by 0.55 and enter
> the dollar amount.  But I think the IRS wants to see the miles.

You could create a new commodity called "miles" and set its price to 55 
cents per mile.  Then create an account in that commodity (or several 
accounts if you want) and use it to keep track of the miles driven.

           Mike




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