1099 MISC deductions questions

[christoforto]

The only deduction I have is mileage, approx 1470 miles. Would this be worth upgrading to the self employment service turbo tax offers.

[NancyG]

Yes, it probably is worth upgrading. But, it depends on your situation.  Your miles are worth a standard mileage deduction of $794 (1470 @ $ .54). I do not know what your income tax rate is.  However, it also lowers the amount of net earnings from self-employment subject to self-employment tax (15.3%). In addition, you may have other expenses that you will be able to claim by upgrading to the self-employment edition. 

Additional Resources:

• What Tax Breaks can I get for my 1099-MISC?

• Reporting Self-Employment Business Income and Deductions