Schedule c - commuting miles - 1099 K

gway72 — Sat, 01 Jun 2019 06:36:50 GMT

Commuting miles to large - what exactly does it want ? how to calculate commuting miles?

If you're self-employed, your deductible miles depend on...

MichaelDC — Sat, 01 Jun 2019 06:36:52 GMT

If you're self-employed, your deductible miles depend on where your self-employed business is located. If you maintain an office at home, all your miles are typically deductible from your "office" to anyplace business related. You have no commuting in this instance.

If you operate your business from somewhere other than your home, you can't deduct the miles you drive from home to your first business-related stop. They are commuting miles and therefore, not deductible. Of course, you can deduct driving costs from your business location to the bank, a client's office, etc.

Here's some info about having a home office for your self-employed business:

The home office deduction lets you deduct things like rent, mortgage interest, insurance, utilities, repairs, and depreciation for the portion of your home used for business. It's available to homeowners and renters alike.

You may be able to claim the home office deduction if your office is used regularly and exclusively for your business and is your principal place of business.

When you enter your home office information in TurboTax, we'll determine if you can claim the deduction and how much the deduction is worth.

This doesn't necessarily mean that the majority of your business activities need to take place in your home office.

What it means is that you use your home office regularly and exclusively to administer or manage your business, and that substantial administration or management activities for your business are not conducted at any other fixed location.

Here's an example: Larry just started a new consulting business, and has set aside a spare bedroom as his office which he only uses for business purposes. Currently about 85% of his time is spent outside the home, meeting potential clients in various restaurants and coffee shops. However, he does all his scheduling, planning, bookkeeping, etc. from his home office. These administrative and managerial activities qualify his home office as his principal place of business, even though he's spending the majority of his time outside of his home office.

topic Schedule c - commuting miles - 1099 K in Business & farm

Schedule c - commuting miles - 1099 K

If you're self-employed, your deductible miles depend on...