The only deduction I have is mileage, approx 1470 miles. Would this be worth upgrading to the self employment service turbo tax offers.
01390
1 Replies
NancyG
New Member
Jun 3, 2019 1:38:10 PM
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.