You'll need to sign in or create an account to connect with an expert.
That's correct. The vehicle deduction is based on your business miles driven. TurboTax is asking these questions because they are required questions on the tax forms for the vehicle deduction.
To take a vehicle deduction, you are supposed to keep a mileage log. While a lot of people don't follow this requirement, it is required if you are ever audited. A mileage log includes odometer readings, dates, locations and business purpose of the trip. There are many software apps you can get for your phone, which automate this.
If you have 2 vehicles, you'll need to set up two cars. Answer the initial questions in regards to one of the vehicles. At the end you'll come to a summary screen of vehicles entered and you can choose to add another vehicle.
If this isn't what you meant, please provide more info below.
Learn more at the IRS here: https://www.irs.gov/pub/irs-pdf/p463.pdf
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
rmotren788
New Member
danielkbalzer
Level 2
erpguy61
New Member
ShelbyAnnHowes
New Member
apahern
New Member