In 2019, Emma purchased an automobile, which she uses for both business and personal purposes. Although Emma
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In 2019, Emma purchased an automobile, which she uses for both business and personal purposes. Although Emma does not keep records as to operating expenses (e.g., gas, oil, and repairs), she can prove the percentage of business use and the miles driven each year. In March 2021, Emma seeks your advice as to what income tax benefit, if any, she can derive from the use of her automobile. What would you suggest?
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Related Book For
South-Western Federal Taxation 2022 Individual Income Taxes
ISBN: 9780357519073
45th Edition
Authors: James C. Young, Annette Nellen, William A. Raabe, Mark Persellin, William H. Hoffman
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