Bicycle deduction

bubblehead · Aug 31, 2013

Frank, on Jan 26, I asked you a question about deducting my electric trike mileage for parts run (while at home)...you advised it is a no-go. Now I have a similar question. I have purchased a folding bike as a carry-on for my truck since the electronic logs & HOS changes and I am experiencing more unfriendly Walmarts as far as using my truck to go do my shopping for food and truck supplies. So the question is; Is the purchase of the bike deductible? The primary use of the bike is to be able to restock my truck supplies with essentials without having to move the truck from its parked location (usually a truck stop) or violating some local ordinance by arriving at a Walmart in my truck.

runrunner · Sep 1, 2013

I am not a tax person so I don't claim to know for certain,but just for fun allow me to make a guess.I think the answer might be,no it is not deductible. Yet I hope I am wrong.

xiggi · Sep 1, 2013

I am 100% sure you can deduct any gas the bicycle uses.

Sent from my Fisher Price ABC-123.

Murraycroexp · Sep 1, 2013

I certainly am not an accountant, and I suggest you call and ask one....BUT.

Our accountant has told us that any personal vehicle we use for work purposes can have the mileage deducted for its use.

I'm thinking that you MAY not be able to deduct the cost of the unit but I'm positive you can take its mileage when used to run your business related errands.

That said, most accountants should gladly discuss this with you for a few minutes.
IMO.

Fkatz · Sep 3, 2013

Hi, Not all Wal-marts are the same, Most of them that are in shopping centers and do not stand by themselves, allow parking, if you own a Straight Truck it normally does not violate the parking regulations. Most of them say No Tractor Trailers, if that's the case, Park your Truck on the side of the building toward the Loading Docks, you might be able to do that. I have not been on the road, lately especially in war-marts, I know the ones here in Gastonia, (Myrtle School Rd,) Franklin Mall Might, but it would be out of the Wal-Mart parking lot itself. then Shelby, NC, Gaffney, Spartanburg, SC, Commerce, GA do allow trucks,. Sidell LA, I know never did, I am not sure if you can deduct mileage/gas for a Bike, even though its used for getting groceries and supplies for the Truck. Give me a few days to check on it. I will get back to you ASAP [h=1]Franklin Katz, RTRP, ATP, PA, PB[/h][h=1]Frank's Tax & Business Service[/h][h=1]315 E. King St.[/h][h=1]Kings Mountain, NC 28086[/h][h=1]704-739-4039 [/h][h=1]E-Mail: [email protected])[/h][h=1]Web: www.prep.1040.com/frankstax[/h][h=1] [/h][h=1]IRS Circular 230 Notice: Unless expressly stated otherwise inthis
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Fkatz · Sep 3, 2013

I know that there are some Wal-marts that do not allow Tractor Trailer parking, but they do Allow RV parking, which really does not make sense, especially with a Straight Truck, its basically the same as an RV in Size and height. BUt "its got Commerical Plates, I think that's the difference for the no-Parking problem, Try calling the store when you want to go shopping in the store, they might let you. In the meantime, I will check to see if you can deduct the Mileage/gas remember you cannot deduct both. I will get back to you within the week and let you know.

bubblehead · Sep 10, 2013

Fkatz said:
I know that there are some Wal-marts that do not allow Tractor Trailer parking, but they do Allow RV parking, which really does not make sense, especially with a Straight Truck, its basically the same as an RV in Size and height. BUt "its got Commerical Plates, I think that's the difference for the no-Parking problem, Try calling the store when you want to go shopping in the store, they might let you. In the meantime, I will check to see if you can deduct the Mileage/gas remember you cannot deduct both. I will get back to you within the week and let you know.

Frank, in the OP, I was asking about the deduction of the purchase of the bike...thanks.....

Fkatz · Sep 17, 2013

Hi Bubblehead,

I called the IRS and they really could not tell me anything in reference to it except, it is not considered a business vehicle, So that is where we are, I really cannot tell you what to do on this, that is your call, or your tax preparer. but if your audited for it. they probably will disallow the deduction and then you are opening up a can of worms, where they might feel that there are other items on your return that they might question. and that you do not want at all.
Frank