mileage deduction

[kritas]

I am finishing fellowship in DC in a few short days(!) and will spend the summer in NY before I start my new job 9/1 in MA.  I will come back to DC for a few moonlighting shifts (independent contractor) over the summer.  Can I deduct the travel expenses between NY and DC since I'll no longer be living in DC, or does this still count as a commute?  Many thanks!

[jfoxcpacfp]

Are you staying in NY for pleasure or to work? If for pleasure, no mileage deduction. In essence, you would be deducting mileage for commuting to your vacation location. If for work, you can deduct the mileage for extra shifts in DC.

Congratulations on finishing your training and on the start of your new career!

[urologyisgreat]

Is mileage deduction only obtainable if you itemize? Conversely, if you take standard deduction, are you out of luck for mileage?

Is there a limit for a resident to deduct mileage? 2 months out of 2017 and 4 months out of 2018 (my pgy2 year) I will be required to travel 40 mi one way to another facility for work (which I believe meets criteria for getting a deduction: <50% of work year).

Also, is this deduction dollar to dollar? As in, if my tax burden is $3000 and my mileage deduction is $500, does my new tax burden become $2500.

[jfoxcpacfp]

• If you are a W2 employee, you must be able to itemize to deduct qualified mileage. The deduction is only the amount in excess of 2% of your AGI.


• Mileage for IC income is deductible.


• There is no limit if you are a resident. I would have to know more about your situation to comment on whether you qualify to deduct your mileage.


• Your deduction lowers your taxable income. I'm not sure about your example without knowing more.

[urologyisgreat]

@jfoxcpacfp

I'm a resident earning approximately 58,500. I don't have any special accounts aside from a Roth IRA and regular saving/checking acct. No debts / mortgages to take into consideration. Real simple.

Somewhat outside the focus this particular issue - are deducted items always calculated in a done dollar to dollar, once they take into effect? So, would the math hold correct for the above scenario (assuming the $500 mileage deduction is above the 2% AGI threshold).

 

 

[jfoxcpacfp]

urologyisgreat wrote:

Somewhat outside the focus this particular issue – are deducted items always calculated in a done dollar to dollar, once they take into effect? So, would the math hold correct for the above scenario (assuming the $500 mileage deduction is above the 2% AGI threshold).

Click to expand...

The wandering thumb strikes again - sorry, hit like instead of quote  ops:

You would get the $500 deduction thrown in with your other itemized deductions. If you can't itemize, then it's a 'no'. If you can itemize, then it's a 'yes'. In your case, unless you are extraordinarily generous, I'm guess you can't itemize.