We have two vehicles using the standard mileage rate. My understanding is the standard mileage rate should Miles (line 6) x 0.58. This is what Turbo Tax is calculating:
TT Line 6 TT Line 19 TT Line 6 x 0.58
1,565 876 908
12,061 6,754 6,995
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Your understanding is not correct. The standard mileage rate for 2021 is 56 cents per mile, not 58 cents. TurboTax is calculating it correctly.
Thanks! If you go to TT forms, it does say 58 cents per mile on line 19.
This issue has been raised before. Although the form says 58 cents on it, the program is correctly calculating at 56 cents.
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