Ryan is self-employed. This year Ryan used his personal auto for several long business trips. He paid $1,850 for gasoline trips. Ryan estimates that he drove approximately 2,220 miles on business trips, but he can only provide written docume business purpose for trips totaling 1,400 miles. His depreciation on the car if he was using it fully for business purposes would be $3,000. During the year, he drove his 18,500 miles (a combination of business and personal travel). What business expense amount can Ryan deduct (if any) for these trips? (Do not found intermediate calculations. Rour answers to the nearest whole dollar amount.) Maximum deductible amount
Ryan is self-employed. This year Ryan used his personal auto for several long business trips. He paid $1,850 for gasoline trips. Ryan estimates that he drove approximately 2,220 miles on business trips, but he can only provide written docume business purpose for trips totaling 1,400 miles. His depreciation on the car if he was using it fully for business purposes would be $3,000. During the year, he drove his 18,500 miles (a combination of business and personal travel). What business expense amount can Ryan deduct (if any) for these trips? (Do not found intermediate calculations. Rour answers to the nearest whole dollar amount.) Maximum deductible amount
Chapter9: Acquisitions Of Property
Section: Chapter Questions
Problem 64P
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Transcribed Image Text:Ryan is self-employed. This year Ryan used his personal auto for several long business trips. He paid $1,850 for gasoline on these
trips. Ryan estimates that he drove approximately 2,220 miles on business trips, but he can only provide written documentation of the
business purpose for trips totaling 1,400 miles.
His depreciation on the car if he was using it fully for business purposes would be $3,000. During the year, he drove his car a total of
18,500 miles (a combination of business and personal travel).
What business expense amount can Ryan deduct (if any) for these trips? (Do not found intermediate calculations. Round your final
answers to the nearest whole dollar amount.)
Maximum deductible amount
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