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I get reibursed for milage at .31 cents .how do i get different tax break for goverment rate
I got 6411.73 for 20683 miles driven while working.irs allows .54 cents or 11168.82 how can I get this rate
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I get reibursed for milage at .31 cents .how do i get different tax break for goverment rate
The standard mileage rate for 2016 is 54 cents, so you are entitled to deduct the difference. 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.
Please keep in mind that this is a job-related expense. In order to qualify, your job-related expenses must be more than 2% of your AGI (adjusted gross income). 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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