When I add a mileage deduction my tax refund goes down...it should go up...
I am thinking of just leaving mileage off at this point...any idea why?
Thanks
Kendall
You'll need to sign in or create an account to connect with an expert.
You must take either
Standard Mileage or Actual Cost
Were you switching from one to the other?
Are you taking any special depreciation on the vehicle?
I am using standard mileage deduction....no depreciation. If I lower the mileage my refund goes up and vice versa..
Thanks
The only thing i can think of is if you are claiming the earned income credit or other credits like the child tax credit. For an example, if you reduce your earned income below a certain amount, this may decrease your credit. if you reduce your income below zero, you may not receive any credit(s). I don't know your particular circumstance but these things i mention are likely culprits.
ok...that makes sense...my income is low. That may also explain why adding business expenses also decreased my refund...
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.
PlayaSol
New Member
DaveFrick
Level 2
DaveFrick
Level 2
jonequest2
Level 1
tbduvall
Level 4