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Question 2 of 65 Jackie uses his personal vehicle in his sole proprietorship. He keeps no records of any kind regarding his business use of
Question 2 of 65 Jackie uses his personal vehicle in his sole proprietorship. He keeps no records of any kind regarding his business use of the car and doesn't really know for certain when and where he used the automobile for business. Jackie will not be claiming the EITC this year. Which of the following is correct? O Jackie should deduct a good-faith estimate of his expenses for the auto as a business expense. O Jackie should estimate his total vehicle expenses for the year, then deduct 50% of that amount as business expense. O Jackie could have leased a comparable vehicle for $2,600 for 2018. Therefore, he should deduct $2,600 as a business expense. O Jackie can only deduct his vehicle expenses if an attempt is made to reconstruct his records. If the records cannot be reconstructed then Jackie should not claim any vehicle expenses. Question 2 of 65 Jackie uses his personal vehicle in his sole proprietorship. He keeps no records of any kind regarding his business use of the car and doesn't really know for certain when and where he used the automobile for business. Jackie will not be claiming the EITC this year. Which of the following is correct? O Jackie should deduct a good-faith estimate of his expenses for the auto as a business expense. O Jackie should estimate his total vehicle expenses for the year, then deduct 50% of that amount as business expense. O Jackie could have leased a comparable vehicle for $2,600 for 2018. Therefore, he should deduct $2,600 as a business expense. O Jackie can only deduct his vehicle expenses if an attempt is made to reconstruct his records. If the records cannot be reconstructed then Jackie should not claim any vehicle expenses
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