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Connor uses his car for his sole proprietorship. In 2021, he drove the car 21,650 miles. Of those miles, 12,620 were for business purposes.
Connor uses his car for his sole proprietorship. In 2021, he drove the car 21,650 miles. Of those miles, 12,620 were for business purposes. He paid $825 for insurance on the car, $3,825 for fuel, and $1,025 for repairs & maintenance. The car was purchased in 2019 for $21,525 and depreciation for the year is $4,133. What is his total deduction for transportation-related expenses for this car, assuming he uses the standard mileage rate to compute his deduction? O $12,124 O $7,320 O $9,808 O $7,067 O $5,717
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