On October 1, 2023, B's employer provided her with the use of a car. The car was purchased for $42,000 (including tax). The employer will also pay for the operating expenses that are expected to be $2,500 annually. B will drive the car 1,800 km per month of which 800 km will be for employment purposes. What amount is included in B's employment income for tax purposes in 2023?

On October 1, 2023, B's employer provided her with the use of a car. The car was purchased for $42,000 (including tax). The employer will also pay for the operating expenses that are expected to be $2,500 annually. B will drive the car 1,800 km per month of which 800 km will be for employment purposes. What amount is included in B's employment income for tax purposes in 2023?

CONCEPTS IN FED.TAX.,2020-W/ACCESS

20th Edition

ISBN:9780357110362

Author:Murphy

Publisher:Murphy

Chapter1: Federal Income Taxation—an Overview

Section: Chapter Questions

Problem 51P: Darrell is an employee of Whitneys. During the current year, Darrells salary is 136,000. Whitneys...

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