Teresa is a civil engineer who uses her automobile for business. Teresa drove her automobile a total of 11,965 miles during 2019, of which 80 percent was business mileage. The actual cost of gasoline, oil,
- How much is Teresa's transportation deduction based on the standard mileage method?
- How much is Teresa's transportation deduction based on the actual cost method?
- Which method should Teresa use to calculate her transportation deduction?
$______________
$______________
__________________________________________________________________________
Why? _____________________________________________________________________
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- Individual Income TaxesAccountingISBN:9780357109731Author:HoffmanPublisher:CENGAGE LEARNING - CONSIGNMENT