Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Required information The following information applies to the questions displayed below Ryan is self-employed. This year Ryan used his personal auto for several long business
Required information The following information applies to the questions displayed below Ryan is self-employed. This year Ryan used his personal auto for several long business trips. Ryan paid $1,630 for gasoline on these trips. His depreciation on the car if he was using it fully for business purposes would be $3,900. During the year, he drove his car a total of 13,200 miles (a combination of business and personal travel). (Do not round intermediate calculations. Round your final answer to the nearest dollar amount.) a. Ryan can provide written documentation of the business purpose for trips totaling 2,640 miles. What business expense amount can Ryan deduct (if any) for these trips? Maximum deductible amount
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started