MarilynG
Expert Alumni

Deductions & credits

You can deduct either Actual Expenses for your car used for business, or Standard Mileage.  If this is your first year for your business, you can choose either method.

For Actual Expenses, you have to keep detailed receipts of what you spent on gas, oil, tires, insurance, loan interest, etc. and figure what % of these expenses are business-related.

For Standard Mileage, you just need to know number of Business Miles driven.  

Here's some helpful info:

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

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