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Teresa is a self-employed civil engineer who uses her automobile for business. Teresa drove her automobile a total of 12,000 miles during 2021, of which
Teresa is a self-employed civil engineer who uses her automobile for business. Teresa drove her automobile a total of 12,000 miles during 2021, of which 82% was business mileage. The actual cost of gasoline, oil, depreciation, repairs, and insurance for the year was $6,400. Teresa is eligible to use the actual or standard method.
If required, round your answers to the nearest dollar.
a. How much is Teresa's transportation deduction based on the standard mileage method?
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