Required information [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 $1,740 for gasoline on these trips. His depreciation on the car if he was using it fully for business purposes would be $4,800. During the year, he drove his car a total of 15,600 miles (a combination of business and personal travel) Note: Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount. b. Ryan estimates that he drove approximately 1.660 miles on business trips, but he can only provide written documentation of the business purpose for trips totaling 1,150 miles. What business expense amount can Ryan deduct (if any) for these trips? Maximum deductible amount

Required information [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 $1,740 for gasoline on these trips. His depreciation on the car if he was using it fully for business purposes would be $4,800. During the year, he drove his car a total of 15,600 miles (a combination of business and personal travel) Note: Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount. b. Ryan estimates that he drove approximately 1.660 miles on business trips, but he can only provide written documentation of the business purpose for trips totaling 1,150 miles. What business expense amount can Ryan deduct (if any) for these trips? Maximum deductible amount

SWFT Comprehensive Volume 2019

42nd Edition

ISBN:9780357233306

Author:Maloney

Publisher:Maloney

Chapter6: Deductions And Losses: In General

Section: Chapter Questions

Problem 43P

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