Thanks for using MileIQ to track your mileage all year. To get the most out of your miles, be sure to deduct your business mileage on your taxes. Here’s how to use MileIQ for your 2018 taxes.

How to Use MileIQ On Your Schedule C

Here’s how to use MileIQ on your taxes if you claim the mileage deduction:

  • Make sure you’ve classified your drives as business or personal (you can use the web dashboard to quickly classify in bulk)
  • Get your Annual Mileage Report from MileIQ
  • Find the “Vehicle Expenses” section of the MileIQ report and note your business mileage, parking and toll fees
  • In the “All Miles” section, note the number of business, commute and personal miles for each vehicle
  • Multiply your business miles by the standard mileage rate of 54.5 cents per mile. Add in your business parking and tolls fees
  • Use this calculated number on Line 9 of your Schedule C, where it asks for your total “Car and truck expenses”
  • Input your business, commute and other miles in Part IV of the Schedule C

How To Use MileIQ With TurboTax Self-Employed

It’s simple to use your MileIQ data with tax software like TurboTax Self-Employed. Here what you need to do:

  • Classify your drives as business or personal (you can use the web dashboard to quickly classify in bulk)
  • Get your Annual Mileage Report from MileIQ
  • Use the steps above to find your total business miles, commute miles, personal miles and business parking and tolls costs
  • After you’ve inputted your self-employed income, TurboTax Self-Employed will guide you through potential tax deductions
  • Choose the vehicle expense options for deductions
  • Fill out the following information for your vehicle: make and model, vehicle type and date the vehicle went into service
  • Select if you used this vehicle for personal reasons too
  • Enter the total miles drove for 2018
  • Enter the business miles drove in 2018
  • Select the “I’ll take the standard mileage deduction … ” option

Note: your TurboTax experience may vary based on which product you’re using.

How To Use MileIQ With Credit Karma Tax Service, TaxAct or Other Software

You can use your MileIQ data with whatever tax software you want to use. Simply use the following instructions:

  • Be sure you classify all your drives as business or personal
  • Use your Annual Mileage Report from MileIQ to find your total business miles, commute miles, personal miles and business parking and toll costs
  • Your tax software will have a section for self-employed deductions, input the proper numbers for your mileage deduction

Other Things To Note

These instructions are for the self-employed. W2 employees can no longer deduct unreimbursed business expenses like mileage. As always, please consult a tax pro before making any tax decisions or filings.

Marin Perez

Marin Perez

Marin is part of the marketing team at MileIQ. He's excited to see how entrepreneurs are using tools like MileIQ and Spend to be more successful. When not working, he's thinking about his next trip.
Marin Perez

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