As we head into the new year, it’s important to record your 2017 ending odometer readings and 2018 starting odometer readings (these should be the same number). The IRS wants it if you’re going to take a mileage deduction.
How To Add Odometer Readings To MileIQ
The easiest way to do this with MileIQ is by using the “Vehicles” feature. Here’s how:
- Before you take your first drive of 2018, open MileIQ, tap the menu icon and select “Personalization”
- 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 2018 starting odometer readings
As a reminder, the IRS doesn’t require odometer readings for each trip you make throughout the year. But it does require your mileage log to have both your starting and ending odometer readings each year, so be sure not to skip this step!
How To Add Odometer Readings Through The MileIQ Dashboard
You can also add your odometer readings through the MileIQ Dashboard. Here’s how:
- Log in to the MileIQ Dashboard using the same e-mail and password you use for the app
- Click on “Settings” in the top-right corner
- Click on “Vehicles & Odometers” under “Personalization”
- Click on your existing vehicle listed
- Fill in your 2018 odometer reading, then click on the “Update Vehicle” button
- If you haven’t added a vehicle, click on the “Add A New Vehicle” button and fill out the appropriate information
Get The Most Out of Your Miles In 2018
Now that you’ve recorded your odometer reading, you’re ready to get your largest deduction yet. Be sure to learn about the latest intelligence features we’ve added that make logging and classifying your drives easier than ever.
MileIQ’s blog does not constitute professional tax advice. You should contact your own tax professional to discuss your situation.