Frank purchased a vehicle for business and personal use. In 2019, he used the vehicle 70% for

Question:

Frank purchased a vehicle for business and personal use. In 2019, he used the vehicle 70% for business (11,000 business miles incurred equally throughout the year) and calculated his vehicle expenses using the standard mileage rate. Frank also paid $1,800 in interest and $480 in county property tax on the car. What is the total business deduction related to business use of the car?

a. $6,380.

b. $6,716.

c. $7,976.

d. $8,660.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  answer-question

Fundamentals Of Taxation 2020 Edition

ISBN: 9781260483147

13th Edition

Authors: Ana Cruz, Michael Deschamps, Frederick Niswander, Debra Prendergast, Dan Schisler

Question Posted: