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What happens if you do not keep a mileage log?In a recent Tax Court case (Olsen v. Commissioner), the taxpayers submitted as evidence estimates based on a computerized atlas, rather than actual odometer readings. They also provided summaries of their repairs and maintenance, rather than actual receipts. The Tax Court held that the mileage records were insufficient because they were not contemporaneous (i.e. not created at the same time the vehicles were used) and were estimates based on a computerized atlas rather than actual odometer readings. The Court also refused to accept the summaries of expenses because the taxpayers did not provide the actual underlying receipts. Final result: The Tax Court disallowed the taxpayers' entire deduction for vehicle (and other) expenses. You can read Tax Court Memo 2002-42 for further details or contact us with questions.
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