Discussion:Auto Expense as UPE

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Discussion Forum Index --> Advanced Tax Questions --> Auto Expense as UPE

Discussion Forum Index --> Tax Questions --> Auto Expense as UPE

TexasGal (talk|edits) said:

19 April 2011
Have Active Limited Partner (but not general partner) who uses his automobile a lot for the partnership business. Can I use the mileage times .50 and deduct it as part of UPE. I already have UPE of about $8200 and his partnership income is $6200 +/. Would I be running up a red flag. This is a partnership formed for 2010

Solomon (talk|edits) said:

19 April 2011
Search UPE - many discussions.

Barry Manilow (talk|edits) said:

20 April 2011
What does the pship agreement say w.r.t reimbursements of pship expenses incurred by the partner?

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