Mileage Tracking for Mortgage Brokers
Many mortgage brokers drive 8,000 to 20,000 business miles a year. At the 2026 IRS standard rate of 72.5 cents per mile, that is a deduction range of $5,800 to $14,500 for the workers who can claim it.
Who can deduct
Independent mortgage brokers and brokers paid 1099 by a brokerage are self-employed and deduct mileage on Schedule C. W-2 mortgage loan officers at banks cannot deduct unreimbursed mileage federally; reimbursement under employer policy or state-mandated reimbursement (CA, IL, MA) is the path.
How mortgage brokers actually drive
Active mortgage brokers commonly drive 10,000 to 18,000 business miles a year visiting clients, real estate agents, closings, and properties. Brokers who run heavy referral networks may exceed 20,000.
Typical deductible trips
The trips below are the ones mortgage brokers most commonly forget to log, plus the obvious ones. Auto-tracking catches all of them, including the small ones that add up.
- Driving to client meetings (often at the client's home or workplace)
- Driving to real estate brokerage offices for referral relationships
- Driving to closings (title company offices, attorney offices)
- Driving to property inspections and appraisals (when accompanying clients)
- Driving to industry events, MBA/MLS meetings, certification courses
- Driving to a notary or document-prep office for client signings
How TruMile helps
TruMile auto-detects every drive using motion plus location, so the trips above get logged whether you remember them or not. Smart classification learns your repeat routes (between regular client homes, between job sites, to your supply store) and starts tagging them automatically after a few trips.
At year-end, one tap turns your trip log into an IRS-compliant CSV or PDF you can hand to your accountant or paste into Schedule C. The math is already done.
Free for 40 auto trips a month, every month. If you are anywhere near the high end of the typical mileage range, the unlimited Pro tier at $7.99 a month or $59.99 a year usually pays for itself in the first week of tax season.
FAQ for mortgage brokers
I work from home. Are drives from home to client meetings deductible?
If you have a qualifying home office, yes. The home office establishes your residence as your principal place of business, which makes drives from home to client meetings business miles instead of commuting. Without a home office, the first drive of the day from home is commuting.
Can I deduct drives to a brokerage I am affiliated with?
If the brokerage is your principal place of business, drives from home to the brokerage are commuting (not deductible). If you primarily work from home and the brokerage is one of several places you work, drives to it during the workday are business miles.
What about marketing activities like driving to host a borrower seminar?
Business mile. Marketing and lead-generation activities are business activities for self-employed brokers.
Are continuing education drives deductible?
Yes, if the CE is required to maintain your NMLS license or improve skills used in your existing business. Driving to a certification that would qualify you for a new line of work (e.g., financial planning) does not deduct.
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