Yes you will be able to claim a deduction for mileage if your reimbursement was at a rate below the allowable IRS mileage rate (for 2017, the rate is 53.5 cents per mile for business miles driven) then you can claim a deduction for the difference.
Please note that Job-related expenses are not fully deductible as they are subject to the 2% rule. and you will only be able to claim them if you itemize.
To enter your job-related expenses in TurboTax Online or Desktop (for TurboTax Online sign-in, click Here), please follow these steps:
- Once you are in your tax return, click on the “Federal Taxes” tab
- Next click on “Deductions and credits”
- Next click on "jump to full list" or “see all tax breaks”
- Scroll down the screen until to come to the section “Employment Expenses”
- Choose "show more", then Job expenses for W-2 income and follow the onscreen instructions.
To deduct business miles for self-employed in TurboTax Online or Desktop, please follow these steps:
- Once you are in your tax return (for TurboTax Online sign-in, click Here), click on the “Federal Taxes” tab ("Business" tab in TurboTax Home & Business)
- Next click on “Wages & Income” ("Business Income and Expense" in TurboTax Home & Business)
- Scroll down the screen until to come to the section “Business Income and Expense”
- Choose “Profit or Loss from Business ” and select start/revisit/update.
- If your business is already listed, choose to "edit"
- You will eventually get to a screen titled "Your () Business"
- Scroll down to Business Expenses and select "Business Vehicle Expense".
Please refer to this IRS link for more information about Transportation Costs
Still have questions?Make a post