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If you own and drive your own rig all the truck expenses are entered in the Vehicle expenses section of the Sch C input section. Enter the FUEL cost as GAS.
If you are an employee you cannot deduct these expenses ... your employer should be paying them and/or reimburse you.
I am an owner-operator. That makes sense. That is how I'm doing it. The problem is that I thought that every dollar spent in diesel it would be deducted in the tax I owe. For example in the top left of the screen is what I owe and when I input the gas it partially goes down. If it says I owe 10,000 and I input 1,000 in gas it only goes down to 9,800 instead of going to 9,000. I thought that every dollar spent in fuel was tax deductable?
You need to get educated on how the Sch C works ... do NOT look at the Refund-O-Meter as it will only confuse you. ONLY look at the actual tax forms when you have finished entering in everything ... that is the only time the meter is correct.
The expenses on the Sch C reduce the income on the Sch C $ for $ ... this is not the same thing as the tax liability on the form 1040.
You can peek at only the Federal form 1040 and the summary of the state info by going here:
1) lower- Left side of the screen...click to the left side of the "Tax Tools" text selection.
2) then select "Tools"
3) then select "View Tax Summary" from the pop-up
4) then back to the left-side and "Preview 1040"
Then hit the "Back" on the left side to get back to your tax entries.
To view your entire return using the online editions (including the state) before you file, you will need to pay for your online account.
Critter that is absolutely incorrect about placing the expense in the vehicle section. I know this question is years old (lol) but the correct info needs to be out here. Big rig diesel cost and mileage do NOT go under the Vehicle section. It is not a vehicle, it is a depreciable equipment/asset and the diesel is a direct cost/expense to providing his service. You can place the cost under Other Expenses and label it as Diesel on a Schedule C.
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