turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

BradKitson
Returning Member

Standard mileage rate appears to be calculated wrong

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

x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

3 Replies
rjs
Level 15
Level 15

Standard mileage rate appears to be calculated wrong

Your understanding is not correct. The standard mileage rate for 2021 is 56 cents per mile, not 58 cents. TurboTax is calculating it correctly.

 

BradKitson
Returning Member

Standard mileage rate appears to be calculated wrong

Thanks! If you go to TT forms, it does say 58 cents per mile on line 19.

Standard mileage rate appears to be calculated wrong

This issue has been raised before.   Although the form says 58 cents on it, the program is correctly calculating at 56 cents.

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question