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Business use vehicle expenses for 1099 work

Hi,

 

Can one take BOTH the standard mileage expense ($.58.5/$.62.5 for 2022) AND still expense auto loan interest on Schedule C?

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MarilynG1
Employee Tax Expert

Business use vehicle expenses for 1099 work

Yes, if you claim the Standard Mileage deduction, you can still claim other vehicle expenses (like interest).  After you enter your Vehicle Info and Business Miles, TurboTax asks about other expenses you may have.

 

Here's more info on Using a Vehicle for Business.

 

@Rumpelstilschen 

 

 

 

 

 

 

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AliciaP1
Expert Alumni

Business use vehicle expenses for 1099 work

No, the standard mileage deduction absolutely covers wear and tear!  The only thing the standard mileage deduction doesn't cover is parking fees, tolls, other transportation costs (uber, taxi, etc.), property taxes paid in your registration fees, and interest paid on your car loan.

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3 Replies
MarilynG1
Employee Tax Expert

Business use vehicle expenses for 1099 work

Yes, if you claim the Standard Mileage deduction, you can still claim other vehicle expenses (like interest).  After you enter your Vehicle Info and Business Miles, TurboTax asks about other expenses you may have.

 

Here's more info on Using a Vehicle for Business.

 

@Rumpelstilschen 

 

 

 

 

 

 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

Business use vehicle expenses for 1099 work

Thx for the quick response!  But just to be sure, the std mileage reimbursement does NOT cover wear and tear items, like new tires and breaks, and I can STILL deduct those in addition to the std mileage rate?

AliciaP1
Expert Alumni

Business use vehicle expenses for 1099 work

No, the standard mileage deduction absolutely covers wear and tear!  The only thing the standard mileage deduction doesn't cover is parking fees, tolls, other transportation costs (uber, taxi, etc.), property taxes paid in your registration fees, and interest paid on your car loan.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
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