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Deductions & credits
I assume you are self-employed (Form 1099-NEC) as opposed to salary employed (W-2 earnings). If you are salary employed, none of your employee business expenses are deductible under current IRS rules in 2023.
Since you were reimbursed for the business use of the auto, you can't deduct the costs associated with it. You can leave it in TurboTax, as long as you are not deducting depreciation or other expenses associated with it. If there is depreciation being deducted, you could report the auto reimbursement as other income up to the amount of the depreciation to offset the deduction.
You can deduct meals if you are away from your home overnight on business. However, the deduction is limited to 50% of the cost of the meals.
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‎February 13, 2024
5:12 PM