Mickey is a 12-year-old dialysis patient. Three times a week for the entire year, he and his mother, Sue, drive 11 miles one way to Mickey's dialysis clinic. On the way home, they go 5 miles out of their way to stop at Mickey's favorite restaurant. Their total round trip is 27 miles per day. Required: How many of those miles, if any, can Sue use to calculate an itemized deduction for transportation? Use the medical mileage rate in effect for 2023, which is 22 cents a mile for the year, to determine the deduction, based upon their driving for the year. Compute Itemized deduction. Note: Round your "Itemized deduction" answer to 2 decimal places.
Mickey is a 12-year-old dialysis patient. Three times a week for the entire year, he and his mother, Sue, drive 11 miles one way to Mickey's dialysis clinic. On the way home, they go 5 miles out of their way to stop at Mickey's favorite restaurant. Their total round trip is 27 miles per day. Required: How many of those miles, if any, can Sue use to calculate an itemized deduction for transportation? Use the medical mileage rate in effect for 2023, which is 22 cents a mile for the year, to determine the deduction, based upon their driving for the year. Compute Itemized deduction. Note: Round your "Itemized deduction" answer to 2 decimal places.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Transcribed Image Text:Mickey is a 12-year-old dialysis patient. Three times a week for the entire year, he and his mother, Sue, drive 11 miles one way to
Mickey's dialysis clinic. On the way home, they go 5 miles out of their way to stop at Mickey's favorite restaurant. Their total round trip
is 27 miles per day.
Required:
How many of those miles, if any, can Sue use to calculate an itemized deduction for transportation? Use the medical mileage rate in
effect for 2023, which is 22 cents a mile for the year, to determine the deduction, based upon their driving for the year. Compute
Itemized deduction.
Note: Round your "Itemized deduction" answer to 2 decimal places.
> Answer is complete but not entirely correct.
January through
Number of miles to be used
Itemized deduction
$
December
4,212 X
926.64 x
Ref
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