Question

Where to enter standard mileage deduction in Turbo Tax Business Download 2021?

Forum|Forum|4 years ago
March 18, 2022
1 reply
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This question is for a vehicle used in an LLC. Under "Business Expenses ->Auto and Truck Expenses", my only option is to use actual expenses. Is there no option to use the standard mileage deduction (i.e. ~57 cents per logged mile)?

TurboTax Business Windows

T

ThomasM125

You would update or start the Auto and truck expenses section as it appears you are familiar with. On the screen that says Enter Auto and Truck Expenses your would enter a new category called Standard mileage allowance, where it says Enter your own auto and truck categories, and enter your mileage allowance amount.

Then use the Forms option to bring up form 4562 Depreciation and Amortization and enter on line 30 to 33 the miles driven and answer the questions on lines 34 to 36.

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