As a Real Estate Agent, I am an independent contractor and I received Form 1099-Msc to show my income for the year. My business is an LLC and elected tax classification of S Corp. When I was preparing for the LLC year end tax, it did not allowed me too use the standard mileage deduction because it is a separate business entity. It was noted that I can record the standard mileage deduction when preparing my individual income tax return.
Turbotax home and business allowed me to record the total business mileage that I incurred for 2018 however, I did not see that the standard mileage amount was considered as deduction against my income. Please help and thanks!
