How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Megan C Your Own Question
Megan C
Megan C, Certified Public Accountant (CPA)
Category: Finance
Satisfied Customers: 16576
Experience:  Licensed CPA, CFE, CMA, CGMA who teaches accounting courses at Master's Level
Type Your Finance Question Here...
Megan C is online now
A new question is answered every 9 seconds

Audit questions for 2010

Customer Question

audit questions for 2010
Submitted: 4 years ago.
Category: Finance
Expert:  Megan C replied 4 years ago.
Thank you for your question - could you please describe in greater detail your question? I see that you are under audit for 2010 and the IRS has questions about your car expenses. Did you use standard mileage or actual expenses?
Customer: replied 4 years ago.

i i used form2106-ez under part one for the first question which stated vehicle expences using standard millige ratr i was told to multify the miles i i reported my vehicle used 35000 for work with 15000 for personal use and then multipy by .50

Expert:  Megan C replied 4 years ago.
Thank you for your follow up. In this case, you should have claimed $17,500 as your deduction for vehicle expenses. You need to have a log to substantiate this, so you need to have written down each trip how many miles you drove, and that total should come up to 35,000 - if you don't have this, then you cannot take the deduction.

Is there something that the auditor is questioning for your deduction?

Please let me know if you need anything additional.

** Please take a moment to rate my response as "Excellent" so that I may be compensated for assisting you today. Please let me know if my assistance was anything less than "OK Service", as I am compensated based on whether or not I have assisted you with your issue. If you need further clarifications, PLEASE WAIT TO RATE MY ANSWER UNTIL AFTER RECEIVING FOLLOW UP FROM ME. If I receive anything less than OK Service, I do not get paid. Thank you for your kind understanding in this matter. If you have difficulties rating, then simply respond stating that you are having difficulties rating and thank me for my excellent, good, or ok service and we can get the rating applied by the site*
You should be aware that your question, as with most tax questions, can never really be answered completely...addressing all the permutations; that is because of the many assumptions that have to be made I have done my best to determine what I think you are asking and answering it in the most direct and understandable manner possible. If, however, after reviewing the questions, you have any uncertainties or further questions, please do not hesitate to ask.