Problem 9-21 (Algorithmic) (L0. 2) Jackson, a self-employed taxpayer, uses his automobile 74% for business and during 2021 drove a total of 22,000 business miles. Information regarding his car expenses is listed below. What is Jackson's deduction in 2021 for the use of his car if he uses: If required, round your answers to nearest dollar. a. The actual cost 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 . If the 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). Problem 9-21 (Algorithmic) (L0. 2) Jackson, a self-employed taxpayer, uses his automobile 74% for business and during 2021 drove a total of 22,000 business miles. Information regarding his car expenses is listed below. What is Jackson's deduction in 2021 for the use of his car if he uses: If required, round your answers to nearest dollar. a. The actual cost 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 . If the 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)