Bonnie drove her new car, which cost $12,000, a total of 16,000 miles during the current year. Of those miles, 12,000 were related to her business (Bonnie is self-employed). Bonnie paid $5,500 for gas, $1,400 for repairs, and $600 for tires during the year. Ignoring Section 179 and additional first year depreciation, first-year MACRS depreciation would be $2,400 if the car was used 100% for business. If Bonnie uses the actual expense method, what is her deductible travel and transportation expense?

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To calculate Bonnies deductible travel and transportation expense using the act... View the full answer