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Yes, you can claim the difference in the IRS standard mileage rate of 53.5 cents per mile and a lesser reimbursement rate per mile as an employee business expense.
To deduct employee business expenses, you must
1. Have enough itemized deductions (ie. Medical, mortgage interest, property taxes, charitable giving, ect) to exceed your Standard Deduction.
2. If you itemize, your deduction is limited to the extent that it exceeds 2% of your Adjusted Gross Income.
So, you may not gain a tax benefit fro this deduction.
To report vehicle expenses in TurboTax:
Follow the prompts and onscreen instructions
As you navigate through the Employee Business Expense Category you will arrive at the Reimbursement For Your Expenses page (towards the end). Enter your employer reimbursement (,30/mile) in this area.
Yes, you can claim the difference in the IRS standard mileage rate of 53.5 cents per mile and a lesser reimbursement rate per mile as an employee business expense.
To deduct employee business expenses, you must
1. Have enough itemized deductions (ie. Medical, mortgage interest, property taxes, charitable giving, ect) to exceed your Standard Deduction.
2. If you itemize, your deduction is limited to the extent that it exceeds 2% of your Adjusted Gross Income.
So, you may not gain a tax benefit fro this deduction.
To report vehicle expenses in TurboTax:
Follow the prompts and onscreen instructions
As you navigate through the Employee Business Expense Category you will arrive at the Reimbursement For Your Expenses page (towards the end). Enter your employer reimbursement (,30/mile) in this area.
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