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Per Diem Deduction

Discussion in 'Trucker Taxes and Truck Financing' started by tderrick, Apr 21, 2015.

  1. Apr 21, 2015 #1
    tderrick

    tderrick Light Load Member

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    If you take the per diem tax allowance claim, do you have to itemize the rest of your return also? ... or can you just add it
    to the standard deduction, per like a 1040EZ situation.




    Anyone take this deduction?
     
    tderrick, Apr 21, 2015
    tderrick, Apr 21, 2015
    #1
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  3. Apr 21, 2015 #2
    dannythetrucker

    dannythetrucker Road Train Member

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    you either take the standard deduction and only the standard deduction, or else you itemize.
     
    dannythetrucker, Apr 21, 2015
    dannythetrucker, Apr 21, 2015
    #2
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  4. Apr 21, 2015 #3
    dptrucker

    dptrucker Road Train Member

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    guess you're a little late on doing your taxes? lol
     
    dptrucker, Apr 21, 2015
    dptrucker, Apr 21, 2015
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  5. Apr 21, 2015 #4
    blairandgretchen

    blairandgretchen Road Train Member

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    Form 2106 EZ, if I'm not mistaken.
     
    blairandgretchen, Apr 21, 2015
    blairandgretchen, Apr 21, 2015
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  7. Apr 21, 2015 #5
    buzzarddriver

    buzzarddriver Road Train Member

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    Of course, the answer depends on how many nights you are away from tour tax home and your marital status. The standard deduction for a single person is $6300. The average Per Diem deduction for an OTR truck driver out an average amount of time is between $11300 and $13500. That is a big deduction to leave unclaimed and could lead to a hefty refund.
    Of course this is based on a full years employment.
     
    buzzarddriver, Apr 21, 2015
    buzzarddriver, Apr 21, 2015
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  8. Apr 21, 2015 #6
    Travisroland

    Travisroland Light Load Member

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    I think it is $59 for every 24 hour period away from home and then only 80% of the total
     
    Travisroland, Apr 21, 2015
    Travisroland, Apr 21, 2015
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  9. Apr 25, 2015 #7
    Mark Kling

    Mark Kling Technology Contributor

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    80% of the days away from your home of domicile.
    75% of the days going home/leaving your home of domicile.
     
    Mark Kling, Apr 25, 2015
    Mark Kling, Apr 25, 2015
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  10. May 23, 2015 #8
    kemosabi49

    kemosabi49 Trucker Forum STAFF Staff Member

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    buzzarddriver is right on his figures. If you run a full year yours should be close to this. And if so you have enough to itemize. Nearly every dollar you spend to produce income is deductable. It isn't real complicated to itemize, especially with some of the software available out there.
     
    kemosabi49, May 23, 2015
    kemosabi49, May 23, 2015
    #8
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