- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Mileage deduction for 1099-NEC income
My daughter who is self employed has been using her personal vehicle for business purposes since 2022. She only recently discovered she can write off mileage as a business expense.
When trying to enter the mileage, TT asks "When did you start using the vehicle for work? Note this date is sometimes from a prior year which is okay to enter."
If I enter a 2022 date, there is no change in the tax due. If I enter Jan 01, 2024, a substantial reduction in the tax due/refunded results. Change it back to the 2022 date, and the amount of tax due goes up, equal to the value before I entered any mileage expense.
It seems like TT is ignoring the expense if the vehicle use commenced prior to 2024
Appreciate some help in understanding why the software is doing this and how to help my daughter take advantage of this tax provision