You can include gas expenses if you choose to take actual expenses instead of mileage for your vehicle.
- If you choose to take mileage,
depreciation is taken into consideration in the mileage rate.
- If you choose to take actual
expenses, TurboTax will automatically calculate the deduction and include
it with the other vehicle expenses. To find the depreciation amount,
just subtract the expenses you entered from the total expense displayed.
As you
go through the interview, TurboTax will first calculate the standard mileage
deduction and then ask if you would like to see if actual expenses would give a
higher deduction. You will have the opportunity to enter the expenses
(gas, tires, etc.) and TurboTax will add these along with the depreciation and
give you a comparison.
To
enter information on your business vehicle, please follow these steps:
- Click on Income and Expenses
and then click the Start/Revisit box in the Self-Employment section.
- On the Your 2017 self-employed
work summary screen, click on Edit next to your business.
[See Screenshot #1, below.]
- If you've already started
to enter information on your vehicles, in the EXPENSES section click on Edit
next to Vehicle. [Screenshot #2]
- If you haven't started, on
the Here's your [business] info screen, click on the box Add
expenses for this work. [Screenshot #3]
- On the next screen click the radio
button next to Vehicle and click Continue at the bottom of
the screen.
- Continue through the interview,
entering the requested information.
- After entering information on your
vehicle, you will be taken to the Vehicle Summary screen, where you will
be able to add another vehicle. [Screenshot
#4]
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