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TurboTax Business 2020: Where do I enter my mileage deduction?

In TurboTax Business 2020: Where do I enter my mileage deduction?

 

TurboTax Mileage Deduction.png

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M-MTax
Level 10

TurboTax Business 2020: Where do I enter my mileage deduction?

Your C corp can reimburse employees at a standard rate or use actual expenses for corp owned vehicles.....the corp can't use the standard rate for vehicles it owns as it must use actual expenses.

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2 Replies
M-MTax
Level 10

TurboTax Business 2020: Where do I enter my mileage deduction?

Your C corp can reimburse employees at a standard rate or use actual expenses for corp owned vehicles.....the corp can't use the standard rate for vehicles it owns as it must use actual expenses.

TurboTax Business 2020: Where do I enter my mileage deduction?

I will report this expense to the C corp as the personal use of business vehicles and include it as an employee benefit amount in W-2 wages.

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