Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Brittany, who is an employee, drove her automobile a total of 20,000 business miles in 2022. She drove 10,000 miles in the first half of

Brittany, who is an employee, drove her automobile a total of 20,000 business miles in

2022. She drove 10,000 miles in the first half of the year and 10,000 miles in the second half of the year. This represents about 75% of the auto's use. She has receipts as follows:

parking(business only) $500

tolls (business only) 200

Repairs $1000

Brittany's AGI for the year of $50,000, and her employer does not provide any reimbursement.

She uses the standard mileage rate method.

After application of any relevant floors or other limitations, Brittany can deduct

A) $0.

B) $12,000.

C) $11,825.

D) $13,000.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Basic Accounting Concepts Principles And Procedures Volume 2

Authors: Gregory Mostyn, Worthy And James

1st Edition

0979149495, 9780979149498

More Books

Students also viewed these Accounting questions

Question

Describe the team dynamics at Facebook.

Answered: 1 week ago