A quick U.S. federal income tax questions: Mileage and parking for health care deductible as medical expenses
A quick U.S. federal income tax questions: Mileage and parking for health care deductible as medical expenses
under C corporation medical reimbursement plan that allows medical expense reimbursement to the maximum extent permissible by law? If so, mileage rate is $0.20? Thanks.
Answers:
Chosen Answer
ninasgramma: Yes, for 2007 the medical mileage deduction is 20 cents per mile. In addition to the mileage deduction, you can add the cost of parking and tolls. If your medical mileage is not more than your actual cost of gas and oil, you can deduct the actual cost of gas and oil instead. If your corporation reimburses you 20 cents per mile, you would only deduct the unreimbursed part of your medical transportation expenses.
2007-10-11 06:30:58
ninasgramma: Yes, for 2007 the medical mileage deduction is 20 cents per mile. In addition to the mileage deduction, you can add the cost of parking and tolls. If your medical mileage is not more than your actual cost of gas and oil, you can deduct the actual cost of gas and oil instead. If your corporation reimburses you 20 cents per mile, you would only deduct the unreimbursed part of your medical transportation expenses.
2007-10-11 06:30:58