What section do I go to to enter my interest for my vehicle?

Please note instructions numbered 8-12 below.

Enter Self-Employment Income;

1. Open your return (if not already open).
2. Enter "Schedule C" in the Search box.
3. Click on "jump to Schedule C" link.
4. Answer Yes on the Did you have any self-employment income or expenses? screen. 
   • If you land on the Your 2024 self-employed work summary page, select Review next to the work you're adding income for.
5. Answer the questions on the following screens until you arrive at Let's enter the income for your work.
6. Select Other self-employed income and select Continue.
7. On the next page you can enter any cash, personal checks, credit card payments, etc., related to your self-employment.
8. Select any expense categories you have screen.
9. Select your expenses, then Continue.  
   • If you've already worked in this section, select Edit or Review next to your business.
10. Then select Start or Edit next to an expense type that you had.
11. Enter your expense description and amount, and follow the onscreen instructions.
12. Proceed through the program screens... entering your information.

Standard mileage rate versus actual expenses

• The more economical the vehicle is to operate, the more likely it is that the standard mileage rate will give you the bigger deduction.
• The higher the operating costs, e.g., gas, repairs, tires, interest, etc. the more beneficial the actual cost method is likely to be.

Standard mileage rate

The IRS allows employees and self-employed individuals to use a standard mileage rate, which is 67 cents per mile for 2024 (this amount includes operating costs, e.g., gas, repairs, tires, interest, etc.) and 65.5 cents per mile in 2023.

To use the standard mileage rate for a vehicle that you own, you are required to use this method in the first year the car is available to use for use in your business. Then, in later years, you can switch between the standard mileage rate and actual expense method.

If you use your car for both business and personal purposes, you'll need to divide your expenses based on your mileage for business and your mileage for personal use.

TurboTax article: Business Use of Vehicle

[Edited 2/13/25 | 8:50am PST]

@shopperd1211