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In 2016, Jessica bought a new heavy truck for $34,000 to use 80% for her sole proprietorship. Total miles driven include 7,800 In 2016, 8,800
In 2016, Jessica bought a new heavy truck for $34,000 to use 80% for her sole proprietorship. Total miles driven include 7,800 In 2016, 8,800 in 2017, and 8,300 In 2018. (Use Table 6A-1 and Table 6A-2 (Do not round Intermediate calculations. Round your final answers to the nearest whole dollar amount.) a. If Jessica uses the standard mileage method, how much may she deduct on her 2018 tax return (miles were incurred ratably throughout the year)? b. What is the deduction for 2018 assuming the actual method was used from the beginning? Calculate depreciation only, the truck is not limited by the luxury auto rules. Also, assume $179 was not elected in the year of purchase. Deduction Jordan took a business trip from New York to Denver. She spent two days in travel, conducted business for nine days, and visited friends for five days. She Incurred the following expenses: $ 520 3. 200 Airfare Lodging Meals Entertainment of clients 648 How much of these expenses can Jordan deduct? (Do not round Intermediate calculations. Round your final answer to the nearest whole dollar value.) Deduction In 2016, Jessica bought a new heavy truck for $34,000 to use 80% for her sole proprietorship. Total miles driven include 7,800 In 2016, 8,800 in 2017, and 8,300 In 2018. (Use Table 6A-1 and Table 6A-2 (Do not round Intermediate calculations. Round your final answers to the nearest whole dollar amount.) a. If Jessica uses the standard mileage method, how much may she deduct on her 2018 tax return (miles were incurred ratably throughout the year)? b. What is the deduction for 2018 assuming the actual method was used from the beginning? Calculate depreciation only, the truck is not limited by the luxury auto rules. Also, assume $179 was not elected in the year of purchase. Deduction Jordan took a business trip from New York to Denver. She spent two days in travel, conducted business for nine days, and visited friends for five days. She Incurred the following expenses: $ 520 3. 200 Airfare Lodging Meals Entertainment of clients 648 How much of these expenses can Jordan deduct? (Do not round Intermediate calculations. Round your final answer to the nearest whole dollar value.) Deduction
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