1040-US: Using the standard mileage rate for vehicle expenses

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Question

I want to use the standard mileage rate. What steps do I follow to enter this information?

Answer

Enter all auto expenses on the Vehicle/Listed tab of the asset. To use the standard mileage rate, click the Standard mileage option in the Additional 1040 vehicle information section. 

Note: By default, UltraTax/1040 optimizes between using the standard mileage rate or the actual costs when determining vehicle costs for current-year vehicles.

Related topic: Automobile expenses FAQs (1040)

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