Tim used his 2015 F-150 pickup truck to meet with clients and for other business needs. The truck was driven a total of 15,473 miles during 2016 and 3,541 of those miles were for business purposes. Tim kept a meticulous mileage log. Kate’s car was also available for personal use. Tim uses the standard mileage rate for deducting the use of his truck. Tim also paid parking fees of $55 and Tolls of $50 during the business use of the truck. Which of these expenses are deductible in the 2018 tax return?

Tim used his 2015 F-150 pickup truck to meet with clients and for other business needs. The truck was driven a total of 15,473 miles during 2016 and 3,541 of those miles were for business purposes. Tim kept a meticulous mileage log. Kate’s car was also available for personal use. Tim uses the standard mileage rate for deducting the use of his truck. Tim also paid parking fees of $55 and Tolls of $50 during the business use of the truck. Which of these expenses are deductible in the 2018 tax return?

SWFT Comprehensive Volume 2019

42nd Edition

ISBN:9780357233306

Author:Maloney

Publisher:Maloney

Chapter9: Deductions: Employee And Self-employed-related Expenses

Section: Chapter Questions

Problem 23P

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