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Is it better for me to select standard mileage for my vehical or actual expenses when i use it for personal and work?

If i select standard mileage, would I still be able to collect back from the maintenance work done too?
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1 Reply
DanielV01
Expert Alumni

Is it better for me to select standard mileage for my vehical or actual expenses when i use it for personal and work?

For most, claiming the standard mileage rate is better.  Your mileage rate for last year is 54 cents a mile, and it adds up quickly.  The reason why it exists is actually to discourage all the calculations that are necessary for actual expenses, and it usually ends up to be a higher number.  The caveat is that if you claim standard deduction, you cannot claim maintenance; that is included with the 54 cents/mile.  But if you are self-employed, you do get to count the proportionate amount of registration fees for your business use/overall use of your vehicle.  Also, if you are making monthly payments on your vehicle, you may also claim the proportionate amount of interest you paid on your vehicle, which normally is not deductible. 

TurboTax will allow you to compare both by toggling the Actual Expenses/Standard Mileage Rate figures.  It's possible that Actual Expenses could be higher this year, but, be careful.  Once you take Actual Expenses for a vehicle, you must always take actual expenses on that vehicle.  Please see this IRS website on this subject:  https://www.irs.gov/taxtopics/tc510.html

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