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Problem 9-21 (Algorithmic) (LO. 2) Jackson, a self-employed taxpayer, uses his automobile 88% for business and during 2022 drove a total of 16,400 business
Problem 9-21 (Algorithmic) (LO. 2) Jackson, a self-employed taxpayer, uses his automobile 88% for business and during 2022 drove a total of 16,400 business miles. Information regarding his car expenses is listed below. Business parking Auto insurance - Auto club dues (includes towing service) Toll road charges (business-related) $250 2,500 300 375 Oil changes and engine tune-ups 400 Repairs 275 Depreciation allowable 5,000 Fines for traffic violations (incurred during business use) 500 Gasoline purchases 5,500 What is Jackson's deduction in 2022 for the use of his car if he uses: If required, round your answers to nearest dollar. a. The actual cost method? b. The automatic mileage method?
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