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Jackson, a self-employed taxpayer, uses his automobile 88% for business and during 2020 drove a total of 24,800 business miles. Information regarding his car expenses is listed below. Business parking

asked Jul 28, 2022 45.9k views

Jackson, a self-employed taxpayer, uses his automobile 88% for business and during 2020 drove a total of 24,800 business miles. Information regarding his car expenses is listed below. Business parking $ 300 Auto insurance 3,000 Auto club dues (includes towing service) 360 Toll road charges (business-related) 450 Oil changes and engine tune-ups 480 Repairs 330 Depreciation allowable 6,000 Fines for traffic violations (incurred during business use) 600 Gasoline purchases 6,600 What is Jackson's deduction in 2020 for the use of his car if he uses: If required, round your answers to nearest dollar.

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by Idbrii

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Gimboland · Answer 1 · 2022-08-03T18:00:47+0000

Answer:

300+3000+360+450+480+330+600+6600 =12120

12120 x 6000 ÷ 100 = 727 200

Step-by-step explanation:

Add all expenses but leave out the 6,000 because it's Depreciation.

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