Question: 9-21 (Algorithmic) (LO. 2) Jackson, a self-employed taxpayer, uses his automobile 76% for business and during 2021 drove a total of 23,400 business miles. Information
9-21 (Algorithmic) (LO. 2) Jackson, a self-employed taxpayer, uses his automobile 76% for business and during 2021 drove a total of 23,400 business miles. Information regarding his car expenses is listed below. Business parking Auto insurance Auto club dues (includes towing service) Toll road charges (business-related) $ 260 2,600 312 390 416 286 Depreciation allowable 5,200 Fines for traffic violations (incurred during business use) 520 Gasoline purchases 5,720 Oil changes and engine tune-ups Repairs What is Jackson's deduction in 2021 for the use of his car if he uses: If required, round your answers to nearest dollar. a. The actual cost method? b. The automatic mileage method? +A
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