In January 2022, Mr. D, who is self-employed, purchased a new automobile, which he uses 100% for business. During 2022, he drove the car 14,000 miles. Half of those miles were driven January through June. Mr. D also owns another automobile, which he uses occasionally for business but primarily for personal purposes. During 2022, he drove the second car 2,000 business miles. Again, half of those miles were driven January through June. The second car is not fully depreciated. What is the amount of Mr. D's automobile expense deduction using the standard mileage rate? O $7,840 O $8,470 O $8,960 O $9,680

In January 2022, Mr. D, who is self-employed, purchased a new automobile, which he uses 100% for business. During 2022, he drove the car 14,000 miles. Half of those miles were driven January through June. Mr. D also owns another automobile, which he uses occasionally for business but primarily for personal purposes. During 2022, he drove the second car 2,000 business miles. Again, half of those miles were driven January through June. The second car is not fully depreciated. What is the amount of Mr. D's automobile expense deduction using the standard mileage rate? O $7,840 O $8,470 O $8,960 O $9,680

CONCEPTS IN FED.TAX.,2020-W/ACCESS

20th Edition

ISBN:9780357110362

Author:Murphy

Publisher:Murphy

Chapter12: Nonrecognition Transactions

Section: Chapter Questions

Problem 36P

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