If you drove 10K miles for business, you would get a business expense for $5800.
The business expense would reduce your business earnings (or increase your business loss) by $5800. If you have a Schedule C business it appears on Line 9 of the Sch C. How much the business expense is worth to you depends on your tax rate. If your income is positive and you are in the 12 percent bracket, this would save you roughly $1,566 (12 percent income tax and about 15 percent SE tax). If you were in the 22 percent bracket you would be looking at roughly $2,146 (22 percent income tax and about 15 percent SE tax).
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