The "owner" either bought this or the Corporation bought this. Using Corporate Funds doesn't make it a Corporate vehicle, by definition. Intending to use a personal vehicle 100% for Business doesn't make it a Corporate vehicle, either. And if it is not owned by the corporation, it isn't part of the 1120S; the Shareholder turns in Mileage log reports to be reimbursed at IRS standard mileage rate.