ReginaM
Expert Alumni

Deductions & credits

No, since you are an independent contractor you can deduct the mileage going to and from your home.   

 

In TurboTax, when asked to fill out your business profile, you would enter your name as the business name and your physical address as the business address.  You would answer the additional questions in the business profile that apply.  You are not required to have an EIN since you don't have employees and in most cases your accounting method would be the "cash" method.  

 

After entering the business profile info, then you will have the opportunity to enter in your business income (income from your 1099-MISC) and your business expenses (including vehicle expenses-mileage).

 

You have the choice of two methods, to claim vehicle expenses. The first option is mileage. You can deduct the miles driven for business. The other option is claiming all your actual expenses such as gas, tires, interest, office supplies.

 

Please find IRS Publication 334  for more information on what you can claim as an expense.

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