qbteachmt
Level 15
12-07-2019
05:49 AM
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The "owner" either bought this or the Corporation bought this. Using Corporate Funds doesn't make it a Corporate vehicle, by definition. Intending to use a personal vehicle 100% for Business doesn't make it a Corporate vehicle, either. And if it is not owned by the corporation, it isn't part of the 1120S; the Shareholder turns in Mileage log reports to be reimbursed at IRS standard mileage rate.
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Don't yell at us; we're volunteers