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Penny owns her own business and drives her car 12,000 miles a year for business and 3,000 miles a year for commuting and personal use.
Penny owns her own business and drives her car 12,000 miles a year for business and 3,000 miles a year for commuting and personal use. She wants to claim the largest tax deduction possible for business use of her car. Her total expenses related to her auto for 2013 are as follows: Gas, oil, and maintenance Insurance Interest on car loan Depreciation License Parking fees and tolls (100% business) Penny's total deduction for business use of the auto in 2013 is: a. $6,378 b. $6,778 c. $6,878 d. $7,190 e. $7.310
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