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HOPE2
Level 7
March 3, 2026
Question

Auto expenses worksheet, 1120-S

  • March 3, 2026
  • 1 reply
  • 15 views

Hi everybody, I was wondering where is Auto expenses worksheet on 1120-S to enter total mileage and business mileage to find out business percentage to use depreciation like Sch C 

1 reply

IRonMaN
Level 15
March 3, 2026

No such thing on a Sub S.  Personal usage is supposed to be calculated and added back on the person's W-2.

Slava Ukraini!
HOPE2
HOPE2Author
Level 7
March 3, 2026

Thanks, I need to make a deposit for a car, actually

qbteachmt
Level 15
March 4, 2026

A deposit for a car? The company is buying a new asset? Or are they selling one?

A vehicle owned by the S corp means you track nonbusiness mileage and the value per the IRS is taxable through payroll, as a Taxable Fringe Benefit, to all of the people whose personal use of that company car was tracked. Otherwise, if that is never used for commuting or personal, left parked at the office when not used for business, it's all business by definition.

A personally owned car used for business means the vehicle owner(s) are supposed to turn in a business mileage report to get reimbursed at mileage rates under An Accountable Plan.

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