Problem 9-51 (LO 9-2) (Algo) [The following information applies to the questions displayed below.] Ryan is self-employed. This year Ryan used his personal auto for several long business trips. Ryan paid $2,050 for gasoline on these trips. His depreciation on the car if he was using it fully for business purposes would be $4,500. During the year, he drove his car a total of 16,000 miles (a combination of business and personal travel). Note: Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount. Problem 9-51 Part-a (Algo) a. Ryan can provide written documentation of the business purpose for trips totaling 4,800 miles. What business expense amount can Ryan deduct (if any) for these trips? Maximum deductible amount
Problem 9-51 (LO 9-2) (Algo) [The following information applies to the questions displayed below.] Ryan is self-employed. This year Ryan used his personal auto for several long business trips. Ryan paid $2,050 for gasoline on these trips. His depreciation on the car if he was using it fully for business purposes would be $4,500. During the year, he drove his car a total of 16,000 miles (a combination of business and personal travel). Note: Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount. Problem 9-51 Part-a (Algo) a. Ryan can provide written documentation of the business purpose for trips totaling 4,800 miles. What business expense amount can Ryan deduct (if any) for these trips? Maximum deductible amount
Chapter9: Acquisitions Of Property
Section: Chapter Questions
Problem 64P
Related questions
Question
100%
am.104.
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 3 steps
Recommended textbooks for you