DawnC
Employee Tax Expert

Business & farm

Possibly.   Did you indicate that you can document your mileage numbers?   You can't take a deduction if you can't verify and track your miles.    Look at your business Schedule C to see how your mileage deduction was included.  Your standard mileage rate deduction will be on Line #9.   If your business has a profit after all deductions, it shows up on Line 31 and this net profit goes to Schedule 1, Line 3.      If it creates a loss on Line 32 of Schedule C, did you mark that all of your investment is at risk?   If you don't, your loss may be limited.   

 

What amount shows up on Line 3 of Schedule 1?   This amount should include your mileage deduction and is transferred to Line 8 (other income, including business income) of your Form 1040.  

 

 

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