auto mileage rate

[imjulier]

Hey-

Anyone know the mileage rate to use on determining w-2 wages for personal use of automobile? I'm not sure if its the same as the reimbursement rate or not.

Thanks,

Julie

[OldJack]

You need to read Publication 15B starting on page 23:

>>You cannot use the cents-per-mile rule for an automobile (any four-wheeled vehicle, such as a car, pickup truck, or van) if its value when you first make it available to any employee for personal use is more than an amount determined by the IRS as the maximum automobile value for the year. For example, you cannot use the cents-per-mile rule for an automobile that you first made available to an employee in 2008 if its value at that time exceeded $15,000 for a passenger automobile or $15,900 for a truck or van.<< There are other requirements for the cents-per-mile rule in pub 15B.

Otherwise you must use the lease value rule and the chart on page 25.

[imjulier]

Thanks Old Jack....this is extremely helpful.

Julie