Masoud drove his vehicle exclusively for ride-hailing in 2022. He drove 8,354 total miles, 4,300 from January 1 to June 30 and the remainder (4,054) after that. His actual expenses were: Gas and oil $2,150 Auto insurance $1,350 New tires $500 Registration fees $450 Depreciation $1,200 New brakes $300 Speeding ticket $250 What is Masoud's allowable vehicle expense deduction?

Masoud drove his vehicle exclusively for ride-hailing in 2022. He drove 8,354 total miles, 4,300 from January 1 to June 30 and the remainder (4,054) after that. His actual expenses were: Gas and oil $2,150 Auto insurance $1,350 New tires $500 Registration fees $450 Depreciation $1,200 New brakes $300 Speeding ticket $250 What is Masoud's allowable vehicle expense deduction?

Income Tax Fundamentals 2020

38th Edition

ISBN:9780357391129

Author:WHITTENBURG

Publisher:WHITTENBURG

Chapter3: Business Income And Expenses

Section: Chapter Questions

Problem 6P: Teresa is a civil engineer who uses her automobile for business. Teresa drove her automobile a total...

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