On June 1, 2020, Kirsten buys an automobile for $60,000. Her mileage log for the year reveals

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On June 1, 2020, Kirsten buys an automobile for $60,000. Her mileage log for the year reveals the following: 20,000 miles for business purposes; 7,000 miles for personal reasons; and 3,000 miles commuting to and from work. What is Kirsten’s maximum cost-recovery deduction for 2020?

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Concepts In Federal Taxation 2021

ISBN: 9780357141212

28th Edition

Authors: Kevin E. Murphy, Mark Higgins, Randy Skalberg

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