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In 2019 , Jessica bought a new heavy truck for $30,000 to use 80% for her sole proprietorship. Total miles driven include 7,000 in 2019
In 2019 , Jessica bought a new heavy truck for $30,000 to use 80% for her sole proprietorship. Total miles driven include 7,000 in 2019 , 8,000 in 2020 , and 7,500 in 2021. (Use Table 6A-1) Required: a. If Jessica uses the standard mileage method, how much may she deduct on her 2021 tax return (miles were incurred ratably throughout the year)? TABLE 6A-1 General Depreciation System: 200\% or 150% Declining Balance Switching to Straight-Line* In 2019 , Jessica bought a new heavy truck for $30,000 to use 80% for her sole proprietorship. Total miles driven include 7,000 in 2019 , 8,000 in 2020 , and 7,500 in 2021. (Use Table 6A-1) Required: a. If Jessica uses the standard mileage method, how much may she deduct on her 2021 tax return (miles were incurred ratably throughout the year)? TABLE 6A-1 General Depreciation System: 200\% or 150% Declining Balance Switching to Straight-Line*
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