8. The following taxpayers need your help in calculating their deductions related to the use of...
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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
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Related Book For
Microeconomics
ISBN: 978-0321866349
14th canadian Edition
Authors: Christopher T.S. Ragan ,Richard G Lipsey
Posted Date:
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