Ryan is self-employed. This year Ryan used his personal auto for several long business trips. Ryan paid $1,920 for gasoline on these trips. His depreciation on the car if he was using it fully for business purposes would be $3,900. During the year, he drove his car a total of 16,400 miles (a combination of business and personal travel). Note: Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount. b. Ryan estimates that he drove approximately 1,740 miles on business trips, but he can only provide written documentation of the business purpose for trips totaling 1,300 miles. What business expense amount can Ryan deduct (if any) for these trips? Maximum deductible amount
Ryan is self-employed. This year Ryan used his personal auto for several long business trips. Ryan paid $1,920 for gasoline on these trips. His depreciation on the car if he was using it fully for business purposes would be $3,900. During the year, he drove his car a total of 16,400 miles (a combination of business and personal travel). Note: Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount. b. Ryan estimates that he drove approximately 1,740 miles on business trips, but he can only provide written documentation of the business purpose for trips totaling 1,300 miles. What business expense amount can Ryan deduct (if any) for these trips? Maximum deductible amount
Chapter6: Deductions And Losses: In General
Section: Chapter Questions
Problem 46P
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Transcribed Image Text:Ryan is self-employed. This year Ryan used his personal auto for several long business trips. Ryan paid $1,920 for gasoline
on these trips. His depreciation on the car if he was using it fully for business purposes would be $3,900. During the year,
he drove his car a total of 16,400 miles (a combination of business and personal travel).
Note: Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount.
b. Ryan estimates that he drove approximately 1,740 miles on business trips, but he can only provide written documentation of the
business purpose for trips totaling 1,300 miles. What business expense amount can Ryan deduct (if any) for these trips?
Maximum deductible amount
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