Question
Remaining Time: 1 hour, 55 minutes, 00 seconds. Question Completion Status: QUESTION 8 Ricardo, who is self-employed, uses his automobile 85% for business and during
Remaining Time: 1 hour, 55 minutes, 00 seconds. Question Completion Status: QUESTION 8 Ricardo, who is self-employed, uses his automobile 85% for business and during 2020 drove a total of 32,200 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) Oil changes and engine tune-ups $345 2,800 275 205 180 1,890 3,600 Fines for traffic violations (incurred during business use) Gasoline purchases 95 4,125 Repairs Depreciation allowable Calculate the amount Ricardo's deduction in 2020 for the use of his car if he uses the automatic mileage method? 4
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