Question

Allison is self-employed and uses her personal automobile in connection with her business. During 2019, Amelie drove her car a total of 22,000 miles. Her business log shows that she drove 19,800 miles for business purposes. During 2019, Amelie incurred the following actual expenses based on 100% use that is, 22,000 total miles: (The standard mileage rate method permits a deduction based on a mileage rate of 58 cents per mile for the year 2019.) (Click the icon to view the expenses.) Read the requirements. Requirement a. Compute Allison's deduction if she uses the actual cost method. The amount deductible using the actual cost method is $ 17,622 Requirement b. Compute Allison's deduction if she uses the standard mileage method The amount deductible using the standard mileage method is Data Table - Х 8,300 3200 Gas and oil Repairs and maintenance Depreciation Insurance 6,300 1,500 280 Licenses and fees $ 19.580 Total Print Done

Expenses are shown in the data table

Answer 1

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Ansurr Total Expenses = $19580 Total use of car = 822,000 Business use = 19,800 Deduction = $19580 /22.000* 19800 Deduction = $17622 Scanned by TapScanner