Using Turbotax Business, how do I claim mileage?

[amyonghwee]

I am using Turbotax Business, how do I claim mileage for a business-related trip?

Thanks!

[LindaS5247 · Accepted solution]

Mileage is an allowable deduction if you’re self-employed or own your own business. You can choose between the standard mileage rate or the actual cost method where you keep track of what you paid for gas and maintenance.
 

The IRS allows employees and self-employed individuals to use a standard mileage rate, which is 65.5 cents per mile in 2023 and 67 cents per mile for 2024.

To use the standard mileage rate for a vehicle that you own, you are required to use this method in the first year the car is available to use for use in your business. Then, in later years, you can switch between the standard mileage rate and actual expense method.  However, if you use the actual cost method in the first year the vehicle is used for business, you must always use the actual cost method.

You will enter it under your business deductions.  Depending on what version of TurboTax you are using and what your business structure is, you will see screens similar to this when inputting your mileage:

If you are a Sole Proprietor filing a Schedule C, it will look more like this:

Click here for additional information on the Business use of Vehicles.

Click here for "Can I Deduct Vehicle Mileage?"

Click here for "Maximizing Tax Deductions for Business Use of Your Vehicle."

Click here for information on Tax Deductions for Business Trips.

Please feel free to come back to TurboTax Community with additional information or questions or click here for help in contacting Turbo Tax Support. 

[amyonghwee]

Thanks!

I am using Turbtotax Business as a LLC taxed as a C-corp. The screen selections are different.

But I get the main gist of your advice!

[KrisD15]

If this is your personal vehicle, you get reimbursed by the company through a written reimbursement plan.

You need to use the Standard Mileage Rate.

That would be an expense for the company and not reported by you. 

If this is a business vehicle, the company can use the Standard Mileage Rate or Actual Expenses and claim it as a business expense.