Question: Problem 9 - 2 7 ( Algorithmic ) ( LO . 2 ) Jackson, a self - employed taxpayer, uses his automobile 7 8

Problem 9-27(Algorithmic)(LO.2) Jackson, a self-employed taxpayer, uses his automobile 78\% for business and during 2024 drove a total of 20,600 business miles. Information regarding his car expenses is listed below. What is Jackson's deduction in 2024 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? \$ c. What records must Jackson maintain? Keeping a written or electronic log of miles driven, the dates the automobile was used, the location of travel, and the business purpose is enough evidence for the standard rate method \(\checkmark \). If the actual expense method \(\checkmark \checkmark \) is used, keeping copies of receipts, canceled checks, and bills in addition to a mileage log is sufficient. Records and logs should be kept contemporaneously (e.g., updated weekly or daily). Feedback
Problem 9 - 2 7 ( Algorithmic ) ( LO . 2 )

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