8. The following taxpayers need your help in calculating their deductions related to the use of...

Transcribed Image Text:

8. The following taxpayers need your help in calculating their deductions related to the use of their automobile. Complete the last column. (12 points) Person | Total Total Business Total Gas Allowable 2020 Miles non-business Parking Expense Depreciation* Deduction Driven Miles Driven and Tolls A 20,000 12,000 2,000 1,500 5000 B 20,000 2,000 1,500 5000 C** 20,000 1,500 5000 D*** 20,000 12,000 1,500 E**** 20,000 2,000 1,500 5000 *This has been calculated to consider only the business use of the car **C had car repair bills of $2,500 ***D’s business is being an employee and these are commuting miles ****E had car repair bills of $2,500 8. The following taxpayers need your help in calculating their deductions related to the use of their automobile. Complete the last column. (12 points) Person | Total Total Business Total Gas Allowable 2020 Miles non-business Parking Expense Depreciation* Deduction Driven Miles Driven and Tolls A 20,000 12,000 2,000 1,500 5000 B 20,000 2,000 1,500 5000 C** 20,000 1,500 5000 D*** 20,000 12,000 1,500 E**** 20,000 2,000 1,500 5000 *This has been calculated to consider only the business use of the car **C had car repair bills of $2,500 ***D’s business is being an employee and these are commuting miles ****E had car repair bills of $2,500

Answer rating: 100% (QA)

1500 1500 C 750 DO E 7... View the full answer