Yes, you can do that.
Why would you do this? Or how would you do this?
For the first business you would enter the miles driven and select the standard mileage.
For the second business, you would enter your miles driven for all purposes including the other business and then miles driven for business number 2. Your expenses will be allocated based on the percent of miles driven for business 2 compared to all miles.
So in reality, doing it both ways doesn't give you any extra benefits because everything is still based on miles. You wouldn't be able to claim the full cost of an engine replacement on business 2, it would only be prorated based on the percent of miles driven for business 2.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
