Question
John drives an employer-provided car that he uses for both business and personal driving. John drove 15,000 miles during the year, of which 10,000 were
John drives an employer-provided car that he uses for both business and personal driving.
John drove 15,000 miles during the year, of which 10,000 were business miles.
The car's FMV is $18,200.
Use the Annual Lease Value table to determine the amount that must be included in John's income for the year.
For this question, if using percentages, do not round them.
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CCH Federal Taxation Basic Principles 2020
Authors: Ephraim P. Smith, Philip J. Harmelink, James R. Hasselback
2020 Edition
0808051784, 9780808051787
