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Question 34 of 45. Larry uses his personal vehicle in his sole proprietorship. He keeps no records of any kind regarding this busins of the
Question 34 of 45. Larry uses his personal vehicle in his sole proprietorship. He keeps no records of any kind regarding this busins of the car and doesn't really know for certain when and where he used the automobile for business. Which of the following is correct? Larry should estimate his total vehicle expenses for the year and then deduct 50% of that amount as business pente Larry cannot deduct any vehicle expenses because he has no record of his expenses. Larry should research what other people in similar businesses deduct for vehicle expenses and them the verge amount. He should keep records of his research in case he is audited. O Larry could have leased a comparable vehicle for $3,800 for 2020. Therefore, he should deduc $2,800 as a businexperte Mark for follow up
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