Transportation business expense

[AmeliesUncle]

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@wgfpd154 wrote:

It is calculating the mileage deduction correct for me, it just won't take me to the page needed to itemize instead.  I had 25667 business miles and deduction given for $14759.  

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With that many business  miles, are you SURE you want to use Actual Expenses?  At first glance, that seems like a really bad idea.

[wgfpd154]

I know it does, but my vehicle gets really good mileage and using the larger 57.5 cent per mile deduction makes it appear I am losing ALL my business profit. No one works for free, right? I think I will go with it though, since getting to the right page is such a problem, and I need to think about future years being stuck in not going back to the standard mileage deduction if I use actual expenses the first year of using this vehicle.

[LinaJ2020]

The issue has been submitted and is currently under investigation.  Please click on the following link and sign up for an email notification when it's fixed.  

Mileage deduction

Thank You for your patience

If you use vehicles in your small business, how and when you deduct for the business use of those vehicles can have significant tax implications. To learn more, click here Business use of vehicle

[1980Bulldog]

I am doing my business vehicle deduction.  I wanted to see if I would get a better deduction by taking it by miles instead of by itemizing expenses, but all it is prompting me to do is the itemizing route.  I wondered if there was some question somewhere that I am missing that chooses to do a standard deduction versus itemized?

[JamesG1]

@1980Bulldog

At the screen Based on the miles you drove, your standard deduction for this truck, scroll down to the bottom of the screen.

You may select either the standard mileage deduction or actual expenses deduction.

To reach this screen,

• Enter your self-employment activity and scroll down to Vehicle and click Edit to the right.
• At the screen Vehicle summary, click Edit to the right of the vehicle.  Review the interview questions until you reach the screen Based on the miles you drove, your standard deduction for this truck.