Can the partners in a general partnership deduct mileage and vehicle expenses on their taxes?
NO you cannot deduct both mileage and expenses. The IRS mileage rate is the estimated cost per mile of operating a vehicle including gas, oil, maintenance, depreciation, etc. Therefore you cannot deduct those expenses separate from the standard mileage deduction. You could technically add up the total expenses associated with operating the vehicle, then multiply it by the percentage of use that was directly associated with business use and take that as a tax deduction, but its WAY more hassle than its worth and then you could not take the standard mileage deduction for the same vehicle. Simply add up all the miles you drove for business, multiply by the mileage rate in effect on the date the miles were driven, and take that deduction. You must have a mileage log with the date, the business purpose of the trip, and the miles driven.
