Brittany, who is an employee, drove her automobile a total of 20,000 business miles in 2022. She drove 10,000 miles in the first half of the year and 10,000 miles in the second half of the year. This represents about 75% of the auto's use. She has receipts as follows: parking(business only) $500 tolls (business only) 200 Repairs $1000 Brittany's AGI for the year of $50,000, and her employer does not provide any reimbursement. She uses the standard mileage rate method. After application of any relevant floors or other limitations, Brittany can deduct A) $0. B) $12,000. C) $11,825. D) $13,000.
Brittany, who is an employee, drove her automobile a total of 20,000 business miles in 2022. She drove 10,000 miles in the first half of the year and 10,000 miles in the second half of the year. This represents about 75% of the auto's use. She has receipts as follows: parking(business only) $500 tolls (business only) 200 Repairs $1000 Brittany's AGI for the year of $50,000, and her employer does not provide any reimbursement. She uses the standard mileage rate method. After application of any relevant floors or other limitations, Brittany can deduct A) $0. B) $12,000. C) $11,825. D) $13,000.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Brittany, who is an employee, drove her automobile a total of 20,000 business miles in
2022. She drove 10,000 miles in the first half of the year and
10,000 miles in the second half of the year. This represents about 75% of the auto's use. She has receipts as follows:
parking(business only) $500 tolls (business only) 200
Repairs $1000
Brittany's AGI for the year of $50,000, and her employer does not provide any reimbursement.
She uses the standard mileage rate method.
After application of any relevant floors or other limitations,
Brittany can deduct
A) $0.
B) $12,000.
C) $11,825.
D) $13,000.
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