Kari sells kitchenware at house parties. She purchased her SUV on July 14, 2022, for $37,500. Kari
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Question:
Kari sells kitchenware at house parties. She purchased her SUV on July 14, 2022, for $37,500. Kari immediately began using it for her business. (She did not claim special (bonus) or Section 179 depreciation.) She keeps a specific mileage log for her business use. Her mileage records for 2022 indicate that she drove her SUV a total of 14,707 miles, with 6,155 miles of this being for her business. The total cost of all her operating, repair, and insurance expenses for 2022 was $3,150. Kari also has receipts for $150 in parking charges while on business. If Kari chooses to use the standard mileage method, what amount can she deduct for car and truck expenses on her Schedule C?
Expert Answer:
To calculate the deductible car and truck expenses for Karis Schedule C using the sta... View the full answer
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