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During 2016, Chester Pry used his personal car for both business and personal purposes. During the year, he drove 5,000 miles on business-related trips and
During 2016, Chester Pry used his personal car for both business and personal purposes. During the year, he drove 5,000 miles on business-related trips and 7,000 miles for personal purposes. He incurred $7,000 of actual car expenses during the year.
Based on this information, what amount of the car expenses are deductible as business-related expenses on Chester's current year tax return? Show computations.
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