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derekfry1
Level 1

Why isn't my mileage deduction showing up?

 
3 Comments 3
LeizylM
QuickBooks Team

Why isn't my mileage deduction showing up?

Thank you for posting here in the Community, derek.

 

Can you share more details about your concern? Where is the mileage deduction not showing up? We just want to make sure that we're giving you the right steps and information to sort this out.

 

A screenshot of your view will be very much appreciated. Keep me updated in the comments below. Hope to hear from you soon. Take care always!

derekfry1
Level 1

Why isn't my mileage deduction showing up?

I am not going to enter a daily trip every day of the week. I use my trucks around 3k miles per month. I went to the individual vehicle and added the miles for the year, no deduction. I entered a monthly tally of each vehicles miles, no deduction just potential deduction. Also why is there not an option for purchasing a vehicle? What category am I supposed to put a vehicle purchase? I bought 2 trucks this past year totaling almost 58k also no deduction. 

 

AlcaeusF
Moderator

Why isn't my mileage deduction showing up?

Hi Derek,

 

Welcome to the Community. I'm here to help you with your mileage concern in QuickBooks Self-Employed.

 

Are you using the standard mileage method (the most common choice for home-based businesses) or the actual expense method? Note if you’re an owner-operator truck driver, you can’t use the standard mileage method to calculate a truck-driver tax deduction for mileage. Instead, actual expenses for qualified work vehicles like semi-trailer trucks are deducted, including fuel, oil, tires, repairs, and insurance.)

 

QuickBooks uses the standard mileage method for deducting vehicle expenses. The process simplifies your deductions. When you file your taxes, you can decide if the standard mileage or actual expenses method is best for you.

 

I recommend updating the Business Vehicle Expenses section for your business. After you enter your mileage, you will come to a screen showing "You've got a standard mileage deduction of $xx. xx". You will see an option, "No, I'll stick with the standard mileage deduction". You can choose that option if the standard mileage allowance applies to your vehicle expenses.

 

Be sure to track miles and categorize transactions if you've linked your bank account. This way, you can lower your tax liability by collecting deductions as they happen during the year.

 

Additionally, we've compiled some steps you can use for problems tracking work trips on your iOS and Android. Check out these links:

 

 

Drop me a comment below if you have any other questions about tracking tax deductions or handling vehicle purchases in QuickBooks. We'll be happy to help you some more. Take care.

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