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Business & farm
From what I am seeing on the help section, the second page is for "adding" the 2nd an 3rd bullets in this list, which is why it is combining them. It is probably just not giving me the option to fill out the form needed for the lower bulleted list below, because I am not seeing any box or place to put depreciation where I am being redirected to on the 2nd page.
How was this calculated?
Standard mileage deduction calculation
If you used the standard mileage deduction, your vehicle deduction includes:
- The miles you drove for work multiplied by the standard mileage rate of 57.5 cents per mile
- Any parking, toll, and transportation fees you included, dollar for dollar
- Any property taxes or interest you paid on your vehicle, subject to your business use. For example, if 50% of the total miles you drove this year were for work, 50% of your property taxes and interest paid on your vehicle will be included.
Actual expenses deduction calculation
If you used the actual expenses method, your vehicle deduction includes:
- Your vehicle expenses (gas, insurance, repairs, etc.), subject to your business use. For example, if 50% of the total miles you drove this year were for work, 50% of your vehicle expenses are included in your deduction.
- Any property taxes or interest you paid on vehicle, subject to your business use
- Any parking, toll, and transportation fees you included, dollar for dollar
- Any depreciation
‎February 3, 2021
6:34 PM