What to Hand Your Tax Preparer for Vehicle Expenses: Form 4562 Part V, Explained
General information, not tax or legal advice. Talk to your tax preparer about your situation.
Form 4562, Part V covers listed property, which includes cars. It asks whether you have evidence, and written evidence, for the business use you claim, then for each vehicle's total, business, commuting and other personal miles, plus questions about personal use. A complete mileage log answers most of it (Instructions for Form 4562).
If you deduct a car on Schedule C, your preparer will likely ask for "Part V numbers." This is the part of Form 4562 that deals with listed property. Here's what it asks and which records answer each question, so you can bring the right things.
Who fills in Part V
The Instructions for Form 4562 explain that Part V is for listed property, which includes passenger automobiles and other property used for transportation. If you use the standard mileage rate or deduct actual expenses for a car you use in a business, Part V generally applies; your preparer will confirm which sections you need.
Section A: depreciation and business use
Lines 24a and 24b: evidence
Line 24a asks whether you have evidence to support the business or investment use claimed. Line 24b asks whether that evidence is written. A mileage log kept at the time is the written evidence those questions are about (IRS Publication 463).
Lines 25–27: business-use percentage and depreciation
For each vehicle being depreciated, Section A lists the date placed in service, business-use percentage, cost or other basis, and depreciation method. The instructions separate property used more than 50% in a qualified business use from property used 50% or less, which matters for Section 179 and the special depreciation allowance (Pub 946).
Section B: information on use of vehicles
Section B asks, for each vehicle, the questions most people think of as "the mileage part":
- Total business or investment miles driven during the year.
- Total commuting miles.
- Total other personal (noncommuting) miles.
- Total miles driven during the year.
- Whether the vehicle was available for personal use during off-duty hours.
- Whether it was used primarily by a more-than-5% owner or related person.
- Whether another vehicle is available for personal use.
The business-use percentage in column (c) of lines 26 and 27 comes from these miles: business miles divided by total miles.
Section C: employer-provided vehicles
Section C has questions for employers who provide vehicles to employees. If you're a sole proprietor driving your own car, your preparer will tell you whether it applies.
What to bring your preparer
| Part V item | Record that answers it |
|---|---|
| Evidence, written evidence (24a, 24b) | Mileage log kept at or near the time |
| Date placed in service | Purchase or lease documents; first business-use date |
| Cost or basis | Purchase agreement |
| Business, commuting, personal and total miles | Year totals from the log, checked against start- and end-of-year odometer readings |
| Business-use percentage | Business miles ÷ total miles |
| Personal-use questions | Your answers; note other vehicles in the household |
Also bring parking and toll receipts, and, if you use actual expenses, receipts for charging, insurance, repairs, tires and registration (IRS Topic 510).
Standard rate figures
If you use the standard rate for 2026, your preparer will need business miles for each half of the year, because the rate is 72.5¢ per mile for January 1 to June 30, 2026 (IR-2025-128 / Notice 2026-10) and 76¢ per mile for July 1 to December 31, 2026 (IR-2026-29 / Announcement 2026-11) (IRS standard mileage rates page).
Example: 1,000 hypothetical business miles in April 2026 × 72.5¢ (IR-2025-128) = $725 at the standard rate. Estimates, not tax advice.
A worksheet, not the form
CyberDeduct exports a PDF or CSV mileage log plus a Form 4562 Part V worksheet with the year's totals for your preparer. The worksheet is a summary to hand over; it is not an e-filed form, and your preparer completes the return.
CyberDeduct builds a mileage log around IRS Pub 463 from your Tesla's own trip and odometer data. You connect your Tesla account once through Tesla's standard account sign-in (OAuth); CyberDeduct never sees or stores your password. You confirm each trip's purpose and export a PDF or CSV log plus a Form 4562 Part V worksheet for your tax preparer. See how the log is built or see plans.
Frequently asked questions
What is Form 4562 Part V?
The part of Form 4562 for listed property, which includes cars. It covers business-use evidence, depreciation and vehicle mileage (Instructions for Form 4562).
What does line 24b mean by written evidence?
Whether your evidence for business use is written, such as a mileage log kept at or near the time (Pub 463).
Which mileage totals does Part V ask for?
Business, commuting, other personal and total miles for each vehicle.
How is business-use percentage figured?
Business miles divided by total miles for the year.
Does CyberDeduct file Form 4562?
No. It exports a mileage log and a Part V worksheet for your preparer; the worksheet is not an e-filed form.
This article is general information, not tax or legal advice. Talk to your tax preparer about your situation.
CyberDeduct is an independent product of LIKE LLC and is not affiliated with or endorsed by Tesla, Inc. Tesla is a trademark of Tesla, Inc.