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You can claim the mileage deduction for the business use of your vehicle, but only if you will have to itemize your deductions.in order to take the mileage deduction. Additionally, the deduction is allowed only for the amount that is more than 2% of your Adjusted Gross Income (AGI).
It is very difficult to qualify for this deduction. That's because the expense limit is so high. In order to qualify, your job-related expenses must be more than 2% of your AGI (adjusted gross income).
Example: If your AGI is $40,000, your expenses would have to be more than $800 ($40,000 x 2%). Even then, you could only deduct the amount over $800. So, if your job-related expenses were $1,000 you could only deduct $200 ($1,000 - $800).
You can claim the mileage deduction for the business use of your vehicle, but only if you will have to itemize your deductions.in order to take the mileage deduction. Additionally, the deduction is allowed only for the amount that is more than 2% of your Adjusted Gross Income (AGI).
It is very difficult to qualify for this deduction. That's because the expense limit is so high. In order to qualify, your job-related expenses must be more than 2% of your AGI (adjusted gross income).
Example: If your AGI is $40,000, your expenses would have to be more than $800 ($40,000 x 2%). Even then, you could only deduct the amount over $800. So, if your job-related expenses were $1,000 you could only deduct $200 ($1,000 - $800).
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