Question: can you please answer the questions in an excel sheet, thank you! Randi incurred the following expenses in operating her personal car that was also

can you please answer the questions in an excel sheet, thank

can you please answer the questions in an excel sheet, thank you!

Randi incurred the following expenses in operating her personal car that was also used in her sole proprietorship. The car was driven 17,750 miles during the year 2019: Variable expenses including fuel, maintenance, etc. $5,900 Fixed expenses including insurance, depreciation, etc. 3,900 Interest on loan secured by the automobile 560 Business related parking and tolls Randi drove this vehicle 3,400 business miles during the year. This is the first year that the auto is used in the business. What is the maximum deduction for the business use of this automobile? What restrictions will Randi face in future years related to this auto if Randi elects to use the actual costs? 25

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