Deduction for Mileage?

[Fred Frigerio]

Except that miles don't accumulate at different values over time. If you
really want to track miles this way you would want to make a subaccount with
the commodity and have do two transactions. One to credit the miles to it
and another to debit it (at .55 per mile) to convert it to $ on the parent
account that is a $ account. That way you have both the $ value and the
miles number. When the allowance changes to some other value (say .60) then
you don't have to worry about it messing your accounting.

Fred F



On Sat, Jan 2, 2010 at 11:48 PM, Mike Alexander <mta at umich.edu> wrote:

> --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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