South-western Federal Taxation 2018: Individual Income Taxes
South-western Federal Taxation 2018: Individual Income Taxes
41st Edition
ISBN: 9781337385886
Author: William H. Hoffman, James C. Young, William A. Raabe, David M. Maloney, Annette Nellen
Publisher: Cengage Learning
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Chapter 9, Problem 16CE
To determine

Compute the deduction.

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Lara uses the standard mileage method for determining auto expenses. During 2023, she used her car as follows: 13,200 miles for business, 2,640 miles for personal use, 3,960 miles for a move to a new job, 1,320 miles for charitable purposes, and 660 miles for medical visits. Presuming that all the mileage expenses are allowable (i.e., not subject to percentage limitations), what is Lara's deduction for: If required, round your answers to the nearest dollar. a. Business? $ b. Charitable? c. Medical?
In 2020, Mary Kelly drove her personal car 2,800 miles for business purposes. She also incurred $182 in parking fees and $191 in turnpike tolls connected with her business trips. Compute Mary’s deduction for automobile expenses on her current year tax return, assuming all of the above expenses are valid and she elects to use the standard mileage allowance method to compute her deduction for automobile expenses. Assume Mary is self-employed.
In 2020, Britt drove her automobile 16,200 miles for business. She incurred $900 in gas expenses and $235 in tolls associated with the business mileage. Assuming Britt uses the standard mileage method, her deduction is $
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