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February 8, 2021
Question

My reviewed track mileage added the deduction amount. I need the actual mileage sum.

  • February 8, 2021
  • 1 reply
  • 1 view
No text available

1 reply

IamjuViel
Level 8
February 8, 2021

Hello there, @walkeryan.

 

Let me share some information on how QuickBooks handles your tracked mileage.

 

When you record your mileage in QuickBooks, it will display the total distance you've covered and the total business miles you've incurred with its equivalent potential deduction. Your personal-related mileage is not included in the deduction. Here's how your mileage is calculated:

               

                                   Total Business miles X Standard Mileage Rates = Potential Deduction

 

If you're total tracked mileage is 193.30 mi but only 166.2 mi is marked as Business miles, then your potential deduction will only show $95.56.

                               

                                        193.30 mi X $0.575 (Standard Rate for 2020) = $95.56

 

On the other hand, you can see the individual potential deduction for each recorded trips you have in QuickBooks. 

 

Lastly, I've added these resources to help you maximize the use of the mileage tracking feature:

Visit us here again if you have other questions or concerns . I’ll jump right back in to help. Wishing you continued success.