KathrynG3
Expert Alumni

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By $196, this must be what is remaining as taxable net income after adding in your mileage expenses. Please clarify if you are referring to the actual mileage. 

 

The standard mileage rate for 2020 was 57.5 cents per mile.

 

Standard mileage includes depreciation in the rate per mile that is deductible. It must be used the first year if you want to be able to choose between Actual or Standard. You must keep a log of business miles and purpose of each trip.

 

Actual expenses include depreciation, gas and maintenance.

 

For more information, see: Can I deduct mileage?

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