Tyler has the following auto expenses:

Gas $1,500

Maintenance $250

Parking Fee for work $150

Depreciation $1,000

Tyler drove the car 12,000 miles total and has evidence of $9,000 business miles.

What is Tyler's auto expense deduction if he elects standard mileage?

		$5,175
		$6,175
		$5,325
		$6,325

Your client loaned someone $10,000 in 2015. The loan had a contract, a set payment schedule, and a set interest rate. In 2020 the loan had an outstanding balance of $1,500. The loan was listed in a bankruptcy and forgiven. There can be no further collection attempts to obtain the remaining amount. What can your client list on their tax return in 2020?

		$1,500 ordinary loss
		$1,500 long-term capital loss
		$1,500 short-term capital loss
		Nothing, no loss is allowed