I did not keep track of milage, but have my receipts. Where do I enter this for a deduction?

jlstewct — Tue, 04 Jun 2019 20:24:55 GMT

turbotax is only allowing me to click "I'll enter the total miles I drove for the year" or "I'll enter my beginning and ending odometer.." I did not keep track of either of these. I just have the receipts. Thank you!

There are two methods of deducting the business use of yo...

MichaelDC — Tue, 04 Jun 2019 20:24:57 GMT

There are two methods of deducting the business use of your vehicle: Standard Mileage rate and Actual Vehicle expenses. Unfortunately, both require you entering both total mileage (business combined with Personal) and personal mileage.

You should make an earnest effort in accurately reporting the miles you drove. Sometime, service records and oil change records can give you accurate tallies of the total miles driven. For the business miles driven, see if there are recurring trips that you make on a regular basis or look for proof of longer trips (hotel records, business purchases, credit card records) to substantiate your mileage.

As the name suggests, the Actual Expenses method (keeping your receipts) requires you to add up all the money actually spent in the operation of your vehicle. You then multiply this figure by the percentage of the vehicle’s business use.

For example, if half the miles you drive are for business and half are for personal use, you will multiply your total vehicle expenses by 50% to arrive at the business portion (e.g. $9,500 total expenses x .50 business use = $4,750 business expenses).

Some of the costs you can include in your Actual Expenses are:

Lease payments
Auto insurance
Gasoline
Maintenance (such as oil changes, brake pad replacements, tire rotations)
New tire purchases
Title, licensing, and registration fees (not deductible in all states; check with TurboTax to see if this expense is deductible in your state)
Vehicle depreciation (use a depreciation table to calculate the amount, and then deduct only the portion that applies to the business use of your vehicle)

The Standard Mileage method is a much simpler way of calculating the business use of your car. It does not require you to track individual purchases and save receipts. Instead, you simply keep track of your mileage for the tax year. (Tip: Take a photo of your odometer on New Year’s Day and save it, so you can always see where your mileage stood at the beginning of the tax year.)

As with other tax deductions, you must determine the percentage of your mileage that applies to your business.

If half the miles you drive are for business and half are for personal use, you will multiply your total mileage by 50% to arrive at the business portion (e.g. 10,000 miles x .50 business use = 5,000 business miles).

Once you have determined your business mileage for the year, simply multiply that figure by the Standard Mileage rate.

For tax year 2016, the Standard Mileage rate is 54 cents per mile. Carrying through the example above: 5,000 business miles x $.54 standard rate = $2,700 Standard Mileage deduction.

You can enter the unreimbursed business expenses here:

· Go to Federal Taxes,

· Click Deductions and Credits,

· Select I'll choose what I work on

· Select Job-Related Expenses under Employment Expenses.

· Select Yes to the Did you have any of these expenses in 2016 for your W-2 income?

· Follow along the interview and select Actual Expenses

topic I did not keep track of milage, but have my receipts. Where do I enter this for a deduction? in Deductions & credits

I did not keep track of milage, but have my receipts. Where do I enter this for a deduction?

There are two methods of deducting the business use of yo...