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Question 5 of 75. Casey uses his personal vehicle in his sole proprietorship. He keeps no records of any kind regarding his business use of
Question 5 of 75. Casey 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. Casey wants to claim the EIITC this year. Which of the following is correct? OCasey should estimate his total vehicle expenses for the year, then deduct 75% of that amount as business expense. Casey should deduct a good-faith estimate of his expenses for the auto as a business expense. OCasey could have leased a comparable vehicle for $4,100 for 2018. Therefore, he should deduct $4,100 as a business expense To comply with due diligence, every effort should be made to reconstruct Casey's vehicle expenses. If the records cannot be reconstructed then Casey should not claim the EITC this year. Mark for follow up
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