Tuesday, February 28, 2012

Do we collectively report mileage on the 8825 or can we claim individually, and if so, what form would we do that on?|||The partner that incurred the mileage charge should invoice the partnership for a reasonable amount for the total miles driven (usually the standard IRS mileage allowance of approx. $0.60/mile, plus any toll charges) and the partnership then accounts for it on Form 8825 as an expense, according to the partners ownership interests.

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