Record Keeping Requirements

To you deduct transportation expenses, you must be able to prove or substantiate the expenses. You can not deduct amounts that you approximate or estimate, so keeping adequate records to prove your expenses or having sufficient evidence is important.

Generally, the IRS wants a written record for it to be considered adequate - because written evidence is more reliable. Computer records are considered adequate, as well as an account book, diary, log, statement of expense, trip sheets, or similar record. Supporting documetation should be kept as additional evidence. Timely kept records have more value than a statement prepared later.

Your mileage log must contain the following information.

• Date of the Expense
• Business Destination.
• Business Purpose
• Miles Traveled
• Total Miles Travedled in Year

Additional Information

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