You'll need to sign in or create an account to connect with an expert.
Yes. if the 40 cents reimbursement is included on your 1099-Misc, you deduct the full 53.5 cents allowed by the IRS.
It the 40 cents is not included, you deduct only the 13.5 cents difference.
Even if the 40 cents is not included on your 1099, the proper way to do it is still include the 40 cents as other income and deduct the full $0.53.5. But, it comes out the same.
More info see:
Yes. if the 40 cents reimbursement is included on your 1099-Misc, you deduct the full 53.5 cents allowed by the IRS.
It the 40 cents is not included, you deduct only the 13.5 cents difference.
Even if the 40 cents is not included on your 1099, the proper way to do it is still include the 40 cents as other income and deduct the full $0.53.5. But, it comes out the same.
More info see:
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.
Jesssid
New Member
daskube1
Level 1
heart_vintage
New Member
valeriepowell29
New Member
christinebradlee80
New Member