Question
Jackson uses his automobile 90% for business and during 2016 drove a total of 14,000 business miles. Information regarding his car expenses is listed below.
Jackson uses his automobile 90% for business and during 2016 drove a total of 14,000 business miles. Information regarding his car expenses is listed below.
Business parking $ 140 Auto insurance 1,300 Auto club dues (includes towing service) 180 Toll road charges (business-related) 200 Oil changes and engine tune-ups 210 Repairs 160 Depreciation allowable 2,850 Fines for traffic violations (incurred during business use) 320 Gasoline purchases 2,800
What is Jackson's deduction in 2016 for the use of his car if he uses:
a. The actual cost method? $______ b. The automatic mileage method? $______
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