Frank purchased a vehicle for business and personal use. In 2018, he used the vehicle 70% for
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Frank purchased a vehicle for business and personal use. In 2018, he used the vehicle 70% for business (11,000 business miles incurred equally throughout the year) and calculated his vehicle expenses using the standard mileage rate. Frank also paid $1,800 in interest and $480 in county property tax on the car. What is the total business deduction related to business use of the car?
a. $5,995.
b. $6,365.
c. $7,591.
d. $8,275..
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Related Book For
Fundamentals Of Taxation 2019
ISBN: 9781260158670
12th Edition
Authors: Ana M. Cruz Dr., Michael Deschamps, Frederick Niswander, Debra Prendergast, Dan Schisler, Jinhee Trone
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