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

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Fixed Assets and UltraTax CS 2023 help is now on Help and Support. We're still moving articles, but you can find most content for the 2023 tax year there. Continue using the Help & How-To Center for tax years 2022 and older.

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 CS optimizes between using the standard mileage rate or the actual costs when determining vehicle costs for current-year vehicles.

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