Jose purchased a vehicle for business and personal use. In 2022, he used the vehicle 16,500 miles (80% of total) for business and calculated his vehicle expenses using the standard mileage rate (mileage was incurred ratably throughout the year). He paid $1,500 in interest and $145 in property taxes on the car. Required: Calculate the total business deduction related to the car. Do not round intermediate calculations. Round your final answer to the nearest whole number. Schedule C Schedule A Total Deduction
Jose purchased a vehicle for business and personal use. In 2022, he used the vehicle 16,500 miles (80% of total) for business and calculated his vehicle expenses using the standard mileage rate (mileage was incurred ratably throughout the year). He paid $1,500 in interest and $145 in property taxes on the car. Required: Calculate the total business deduction related to the car. Do not round intermediate calculations. Round your final answer to the nearest whole number. Schedule C Schedule A Total Deduction
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Jose purchased a vehicle for business and personal use. In 2022, he used
the vehicle 16,500 miles (80% of total) for business and calculated his
vehicle expenses using the standard mileage rate (mileage was incurred
ratably throughout the year). He paid $1,500 in interest and $145 in property
taxes on the car.
Required:
Calculate the total business deduction related to the car.
Do not round intermediate calculations. Round your final answer to the
nearest whole number.
Schedule C
Schedule A
Total
Deduction
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