Mileage deduction

Forum|Forum|2 years ago
April 13, 2024
2 replies
0 views

When I enter my miles for the year, it increases my tax due, why? It should decrease.

xmasbaby0

Level 15

Are you entering mileage on a Schedule C for business expenses? As you enter your expenses, it is affecting your income and might be affecting other credits like earned income credit or additional child tax credit.

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450418Author

Level 2

I don't claim either of those, I am entering this under business and income expenses.

AnnetteB6

Level 15

If you are entering mileage for your Schedule C business expense, then by entering the expense, you are reducing the Schedule C income. This, in turn, could be reducing your Qualified Business Income (QBI) deduction. Lowering the QBI deduction would increase your balance due.

@450418

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