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chriss3663
October 31, 2023
Question

Mileage Tracking - By U.S. IRS Law: Self Employed Needs to Track Odometer Reading for each trip to and from/beginning and ending

  • October 31, 2023
  • 2 replies
  • 0 views

By IRS law we are required to report our mileage and odometer reading to and from each trip. For example

 

Beginning:  Odometer Reading: 15000    Ending Odometer Reading: 150015

Start: 123 Main Street       End: 321 JoeShome Street   - 15 Miles

 

How are we supposed to record each odometer reading trip in Quickbooks Plus Subscription? 

2 replies

S
ShyMae
October 31, 2023

Let me guide you on how to record your trips, @chriss3663.

 

In QuickBooks Online (QBO), you can easily record and track your business miles and vehicle expenses to accurately calculate tax deductions.

 

It's essential to add your vehicles to QBO before tracking your tips so you can match trips to the right vehicle.


To enter a trip manually and include the odometer reading, follow these steps:

 

  1. Go to Expenses, then click Mileage.
  2. Select Add a trip manually and click Add trip. 
  3. Enter the trip date, starting and ending locations, distance and the purpose. 
  4. Choose the vehicle you used
  5. Once done, click Save. 

 

You can track business mileage and vehicle information using the QBO mobile app. It will help you keep accurate records and make tax deductions easier. 

 

If you encounter any issues while using the QBO mobile app, check out this article for guides: Fix mileage tracking issues in the QBO mobile app.

 

I'm still all ears if you need further help tracking and recording your mileage. Just type your response by clicking the reply button.

C
chriss3663Author
October 31, 2023

Thank you for your response. Although your answer was accurate in how to track mileage, it leaves out the most important part of the question:  Where do I record odometer readings for each trip?

Please examine my original question before providing an answer that does not answer the question. Thank you.

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chriss3663Author
October 31, 2023

After Spending almost 2 hours on the phone with Quickbooks Tech support which had me Open / Close QuickBooks, and uninstall and reinstall Quickbooks apps, this resulted in nothing accomplished. However, As I was thinking, the only way to track the odometer reading is to manually enter the start and end address followed by the odometer reading. There is no MEMO in these settings otherwise.

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