Our company uses Runzheimer to compensate for business travel use of personal vehicle. The mileage rate is a variable rate of about .15 per mile. What can I do?

Forum|Forum|7 years ago
June 1, 2019
1 reply
17 views

What can I report on my taxes, and where do I enter the information on Turbo Tax?

TurboTax Deluxe Online

Best answer by MaryK1

Note: These instructions only apply to 2017 (or earlier) tax year returns. Under the Tax Cuts and Jobs Act (TCJA) that Congress signed into law on December 22, 2017, the unreimbursed employee expenses deduction has been suspended in tax years 2018 through 2025.

This would be a Job Related Expense. In the search box type "job expenses, employee" and you should get a Jump to link where you can enter the information under vehicle information. You will need to enter the information about the car and travel- and it will ask you if you were reimbursed for any expenses. If you enter the amount you receive from Runheimer, Turbo Tax will calculate the difference and you can deduct the difference between the standard mileage and the reimbursed mileage.

Please note: Job Expenses are a Miscellaneous Itemized Deduction. If you have deductible expenses that qualify as miscellaneous itemized deductions, you can deduct certain of those expenses only to the extent that they exceed 2% of your adjusted gross income so you may not see the entire amount of the deduction but every bit helps and Turbo Tax will do the calculations for you!

[ Edited 3/9/2020 | 5:25pm PST ]

M

MaryK1Answer

Level 11

Note: These instructions only apply to 2017 (or earlier) tax year returns. Under the Tax Cuts and Jobs Act (TCJA) that Congress signed into law on December 22, 2017, the unreimbursed employee expenses deduction has been suspended in tax years 2018 through 2025.

This would be a Job Related Expense. In the search box type "job expenses, employee" and you should get a Jump to link where you can enter the information under vehicle information. You will need to enter the information about the car and travel- and it will ask you if you were reimbursed for any expenses. If you enter the amount you receive from Runheimer, Turbo Tax will calculate the difference and you can deduct the difference between the standard mileage and the reimbursed mileage.

Please note: Job Expenses are a Miscellaneous Itemized Deduction. If you have deductible expenses that qualify as miscellaneous itemized deductions, you can deduct certain of those expenses only to the extent that they exceed 2% of your adjusted gross income so you may not see the entire amount of the deduction but every bit helps and Turbo Tax will do the calculations for you!

[ Edited 3/9/2020 | 5:25pm PST ]

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