As we head into 2017, it’s important to record your 2016 ending odometer readings and 2017 starting odometer readings since the IRS wants it if you’re going to take a mileage deduction. Of course, this should be the same number.
The easiest way to do this with MileIQ is by using the “Vehicles” feature. Before you take your first drive of 2017, open MileIQ, tap the menu icon and select “Personalization.” From there, tap “Vehicles” and tap the name of your vehicle. Once you’re in your individual vehicle settings, you’ll see a place to add your 2017 starting odometer readings. Easy as pie.
As a reminder, the IRS doesn’t require odometer readings for each trip you make throughout the year, but they do require your mileage log to have both your starting and ending odometer readings each year, so be sure not to skip this step!
MileIQ’s blog does not constitute professional tax advice. You should contact your own tax professional to discuss your situation.