Problem LO Algo
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The following information applies to the questions displayed below.
Ryan is selfemployed. This year Ryan used his personal auto for several long business trips. Ryan paid $ for gasoline on these trips. His depreciation on the car if he was using it fully for business purposes would be $ During the year, he drove his car a total of miles a combination of business and personal travel
Note: Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount.
Problem Parta Algo
a Ryan can provide written documentation of the business purpose for trips totaling miles. What business expense amount can Ryan deduct if any for these trips?
Maximum deductible amount?
b Ryan estimates that he drove approximately miles on business trips, but he can only provide written documentation of the business purpose for trips totaling miles. What business expense amount can Ryan deduct if any for these trips?
Maximum deductible amount?