Business use vehicle expenses for 1099 work

Forum|Forum|3 years ago
April 18, 2023
1 reply
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Hi,

Can one take BOTH the standard mileage expense ($.58.5/$.62.5 for 2022) AND still expense auto loan interest on Schedule C?

Best answer by mglauner

Yes, if you claim the Standard Mileage deduction, you can still claim other vehicle expenses (like interest). After you enter your Vehicle Info and Business Miles, TurboTax asks about other expenses you may have.

Here's more info on Using a Vehicle for Business.

@Rumpelstilschen

mglaunerAnswer

Here's more info on Using a Vehicle for Business.

@Rumpelstilschen

RumpelstilschenAuthor

Thx for the quick response! But just to be sure, the std mileage reimbursement does NOT cover wear and tear items, like new tires and breaks, and I can STILL deduct those in addition to the std mileage rate?

AliciaP1

No, the standard mileage deduction absolutely covers wear and tear! The only thing the standard mileage deduction doesn't cover is parking fees, tolls, other transportation costs (uber, taxi, etc.), property taxes paid in your registration fees, and interest paid on your car loan.

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