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Please help with the attached question. Can you please put in a word document, not excel. Please be as thorough as possible in answering question
Please help with the attached question. Can you please put in a word document, not excel. Please be as thorough as possible in answering question as well.
9-58: Auto Expenses. Amelie is an employee who uses her personal automobile in connection with her job. During 2013, Amelie drove her car a total of 28,000 miles. Her business log shows that she drove 22,400 miles for business purposes. She is reimbursed for $0.30 per mile from her employer for her business miles and she makes an adequate accounting to her employer. During 2013, Amelie incurred the following actual expenses based on 100% business use, that is, 28,000 miles: Gas and oil Repairs and maintenance Depreciation Insurance Licenses and fees $7,800 2,300 5,800 1,440 300 $17,640 a. Compute Amelie's deduction before the 2% of AGI floor if she uses the actual cost method. b. Compute Amelie's deduction before the 2% of AGI floor if she uses the standard mileage method. c. Assume Amelie used the standard mileage method in 2013. In addition to the automobile expenses above, she made several business trips and incurred the following travel expenses: Airfare Hotel Meals and entertainment Taxi fees and trips $4,600 1,860 720 280 $7,460 d.None of the above expenses was personal in nature and she received reimbursements from her employer of $4,476. If Amelie's AGI was $120,000, what is her deduction in 2013 after all limitationsStep by Step Solution
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