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Yes. Mileage is an allowable deduction if you’re self-employed or own your own business. You can choose between the standard mileage rate or the actual cost method where you keep track of what you paid for gas and maintenance.
To use the standard mileage rate, you must keep a log of each trip with miles driven during the first year your vehicle is used for business. After that, you can either go with standard mileage or actual cost (unless you lease, in which case you must stick with standard mileage for the duration of the lease).
Please read this TurboTax FAQ for additional information on "Where do I enter my self-employment business expenses, like home office, vehicle mileage, and supplies?": Where do I enter my self-employment business expenses, like home office, vehicle mileage, and suppli...
Yes. Mileage is an allowable deduction if you’re self-employed or own your own business. You can choose between the standard mileage rate or the actual cost method where you keep track of what you paid for gas and maintenance.
To use the standard mileage rate, you must keep a log of each trip with miles driven during the first year your vehicle is used for business. After that, you can either go with standard mileage or actual cost (unless you lease, in which case you must stick with standard mileage for the duration of the lease).
Please read this TurboTax FAQ for additional information on "Where do I enter my self-employment business expenses, like home office, vehicle mileage, and supplies?": Where do I enter my self-employment business expenses, like home office, vehicle mileage, and suppli...
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