Question: Exercise 9-12 (Algorithmic) (LO. 2) Lara uses the standard mileage method for determining auto expenses. During 2022, she used her car as follows: 17,000 miles
Exercise 9-12 (Algorithmic) (LO. 2) Lara uses the standard mileage method for determining auto expenses. During 2022, she used her car as follows: 17,000 miles for business, 3,400 miles for personal use, 5,100 miles for a move to a new job, 1,700 miles for charitable purposes, and 850 miles for medical visits. Presuming that all the mileage expenses are allowable (i.e., not subject to percentage limitations), what is Lara's deduction for:

Lara uses the standard mileage method for determining auto expenses. During 2022, she used her car as follows: 17,000 miles for business, 3,400 miles for personal use, 5,100 miles for a move to a new job, 1,700 miles for charitable purposes, and 850 miles for medical visits. Presuming that all the mileage expenses are allowable (i.e., not subject to percentage limitations), what is Lara's deduction for: If required, round your answers to the nearest dollar. a. Business? $ b. Charitable? $ c. Medical? $
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
