KrisD15
Expert Alumni

Deductions & credits

Please go to the BUSINESS tab

Business Income and Expenses    Start or Update

 

If it was already setup, the business will be listed, select Edit

If it was not already setup, do that first

Be sure the Business Profile has been entered

Before entering vehicle expense, it's best to enter the business income (Why? In case you are able to elect Bonus Depreciation or Section 179 Deduction on a vehicle you'd need business income)

 

Scroll down to Business Vehicle Expense under Business Expense   Start or Update

ADD the vehicle if necessary or select EDIT from the list 

 

Go through the vehicle and your mileage will be asked to be entered. 

(Note: The software asks for business AND personal miles, why? that is how the program determines the percentage you use the vehicle for business. This matters for depreciation, although if you use the Standard Mileage rate, the depreciation is built into the rate.)

 

 

 

 

 

 

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