Rajiv, a self-employed consultant, drove his auto 20,000 miles this year, 15,000 to meetings with clients and 5,000 for commuting and personal use. The cost of operating the auto for the year was as follows:
Rajiv's AGI is $100,000 before considering the auto costs. Rajiv has used the actual cost method in the past. What is Rajiv's deduction for the use of the auto after application of all relevant limitations?
A) $8,325
B) $9,000
C) $6,325
D) $7,000
Correct Answer:
Verified
Q31: Gayle,a doctor with significant investments in the
Q31: Norman traveled to San Francisco for four
Q60: Sarah incurred employee business expenses of $5,000
Q68: Steven is a representative for a textbook
Q69: Shane, an employee, makes the following gifts,
Q71: Chelsea, who is self-employed, drove her automobile
Q72: Edward incurs the following moving expenses:
Q74: Bill obtained a new job in Boston.
Q77: The following individuals maintained offices in their
Q80: In which of the following situations is
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents