Auto Rental Vs Mileage

[jwhittaker]

When traveling for business do you deduct the cost of rental car, gas etc or do you deduct miles of rental car or both?

[RBFC]

I report actual expenses and not mileage.....

[DaveF1006]

Yes, you can claim mileage or actual expenses for your rental vehicle, whichever gives you a bigger deduction. To enter this:

1. Log into turbo tax
2. Go to federal>income and expenses
3. Self-Employment>show more
4. Schedule C: 1099-NEC, 1099-MISC, 1099-K, expenses>Self-employment income and expenses.
5. Under expenses, select Business travel> in the description field, enter rental car and the amount of the expenses.
6. It would be prudent to maintain documentation for the transaction of this rental car in case if you are a subject of an IRS inquiry.

[jwhittaker]

Thank you