Drake Tax - 1120-S - Mileage and Automobile Truck Expenses

There are two options:

• Use screen AUTO to enter details for vehicle expenses (starting with Drake Tax 2023).

  • Make sure to select DED in the For drop list if you want the amount to carry to Form 1120-S.

  • Press PAGE DOWN to enter details for each vehicle on a new screen.

  • In View/Print mode, Wks Auto is generated, the amount is shown on Statement 2, and is added to the "Other deductions" line on Form 1120-S.

• Calculate and enter the total of all car and truck expenses directly on the DED screen in the field Automobile and truck expense. This is an override field starting in Drake Tax 2023 if the AUTO screen is used.

  • If you complete Form 4562 outside of Drake Tax and want to enter the information directly on the form for record keeping purposes, actual mileage can be entered on screen 9.