Deductions & credits

Nipsey,

You've been getting some good advice and suggestions regarding the standard mileage vs actual expenses decision.  Let me add one extremely helpful resource, which is actually contained in the TurboTax.Intuit website. As you've already realized, there is no one preferred method, because of the many variables, not the least of which is: if you pick the actual expenses method, you're stuck with it for all subsequent years.  If you pick the standard mileage method you can switch back and forth between methods in all subsequent years.

You owe it to yourself to click on this link and read it all.  It has a helpful outline and a good example and it's right next door!

https://turbotax.intuit.com/tax-tips/self-employment-taxes/standard-mileage-vs-actual-expenses-getti...