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Learn how QuickBooks Self-Employed calculates mileage deductions

SOLVEDby QuickBooks25Updated over 1 year ago

Find out how QuickBooks Self-Employed calculates the mileage you can deduct from your taxes.

If you use a vehicle for business, you can automatically track your mileage with the QuickBooks Self-Employed mobile app. QuickBooks keeps track of your total mileage so you can claim the correct deduction. You should also categorize any vehicle-related expenses so you have all the info you need when you file your taxes.

Here's how QuickBooks Self-Employed calculates mileage for your deduction.

How QuickBooks Self-Employed calculates business mileage

QuickBooks uses the standard mileage method to estimate your tax deductions. To calculate the deduction, QuickBooks multiplies your total business miles by the current rate per mile set by the IRS. Always refer to the IRS website for the latest mileage rates.

Even though QuickBooks uses the standard mileage method, you don't have to use it when you file your taxes. You can calculate your actual vehicle expenses and miles traveled. This is known as the actual expenses method.

Learn more about the standard mileage and actual expenses deduction methods.

Track your business mileage

You have a few options. You can use the QuickBooks Self-Employed mobile app to automatically track your mileage. And if you forget to track a trip, you can always add trips manually.

Categorize vehicle expenses

When you categorize your vehicle expenses in QuickBooks Self-Employed, mark them as Business and use Car and Truck for the expense category.

Learn more about vehicle expense categories in QuickBooks Self-Employed.

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