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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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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