You'll need to sign in or create an account to connect with an expert.
Yes, you can deduct mileage as a self-employed taxpayer - you can deduct the mileage on Schedule C that relates to that income. These out-of-pocket expenses will offset (reduce) your earnings, lowering the amount of income you pay taxes on.
As for the car itself, you can deduct fuel, maintenance, repairs, auto insurance, registration, lease payments, and depreciation. Many drivers opt to do this through the Standard Mileage Rate (58.5 cents per mile for Jan-Jun 2022 and 62.5 cents per mile for July-Dec 2022) because it's much simpler. However, you can deduct each expense individually with the alternative Actual Expenses method. Both methods require you to keep track of your business and personal miles.
Yes, you can deduct mileage as a self-employed taxpayer - you can deduct the mileage on Schedule C that relates to that income. These out-of-pocket expenses will offset (reduce) your earnings, lowering the amount of income you pay taxes on.
As for the car itself, you can deduct fuel, maintenance, repairs, auto insurance, registration, lease payments, and depreciation. Many drivers opt to do this through the Standard Mileage Rate (58.5 cents per mile for Jan-Jun 2022 and 62.5 cents per mile for July-Dec 2022) because it's much simpler. However, you can deduct each expense individually with the alternative Actual Expenses method. Both methods require you to keep track of your business and personal miles.
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
mbsvs1
Returning Member
Soykitten
New Member
louisandsteph
New Member
MWard68
New Member
Kamarie94
New Member
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.