Business, 10.03.2020 04:35 mariaherving55
Ricardo, who is self-employed, uses his automobile 85% for business and during 2019 drove a total of 32,200 business miles. Information regarding his car expenses is listed below.
Business parking $345
Auto insurance 2,800
Auto club dues (includes towing service) 275
Toll road charges (business-related) 205
Oil changes and engine tune-ups 180
Repairs 1,890
Depreciation allowable 3,600
Fines for traffic violations (incurred during business use) 95
Gasoline purchases 4,125
What is Ricardo's deduction in 2018 for the use of his car if he uses:
If required, round your final answers to the nearest dollar.
(a) The actual cost method?
(b) The automatic mileage method?
Answers: 3
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