How to use vehicle mileage to track Schedule C vehicle expenses in Money (873277)


The information in this article applies to:

  • Microsoft Money 2003 Deluxe and Business
  • Microsoft Money Deluxe & Business 2002

INTRODUCTION

This article describes how to use vehicle mileage, instead of actual expenses, to determine your Schedule C vehicle expenses in Microsoft Money.

MORE INFORMATION

To use vehicle mileage to determine your Schedule C vehicle expenses in Microsoft Money, configure Money to use the standard mileage rate. To do this, follow these steps:
  1. On the Reports menu, click Reports Gallery.
  2. Click Business, click Taxes, and then double-click Schedule C Report.
  3. Click Customize, click Take the standard mileage rate, and then click OK.
  4. Click Home, click Business in the Choose a view box, and then click Record mileage for a trip.
  5. Click New, type the information for the trip, and then click Done.
  6. Click Mileage Rates, type the mileage rate according to current Internal Revenue Service rules in the Mileage Rate box, and then click OK.
  7. Click Reports, click Reports Gallery, click Business, click Taxes, and then double-click Schedule C Report.
Verify that your vehicle mileage expenses appear in the Schedule C Report.
Modification Type:MajorLast Reviewed:7/29/2004
Keywords:kbhowto KB873277 kbAudEndUser
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