On July 21, 2020, Andrew purchased and placed in service a new car.  The purchase price was $40,000. This was the only business-use asset Andrew acquired in 2020. He used the car 85% of the time for business and 15% for personal use and maintains proper documentation of use. Andrew would like to deduct the maximum amount possible. Calculate the total deduction Andrew can take with respect to the car for 2020.

Answer rating: 100% (QA)

To calculate the total deduction Andrew can take with respect to the car for 2020 we need to conside... View the full answer