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Work pays me vehicle allowance, but my mileage and tolls exceed my reimbursement. How do i claim this?

 
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1 Reply
RichardG
New Member

Work pays me vehicle allowance, but my mileage and tolls exceed my reimbursement. How do i claim this?

The standard mileage rate for 2016 is 54 cents, so you are entitled to deduct the difference, plus the unreimbursed tolls.   After you enter the information for your mileage deduction, you'll enter the amount you were reimbursed.  Please go to Federal Income>Deductions & Credits>Job-Related Expenses to enter this deduction.

In order to benefit from this deduction, your job-related expenses and other miscellaneous deductions must be more than 2% of your AGI (adjusted gross income).  Moreover, this is one of several itemized deductions.  Unless your total itemized deductions exceed your standard deduction, you'll receive no benefit from this deduction.

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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