Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. jose purchased a vehicle for business and personal

Jose purchased a vehicle for business and personal use. In 2021, he used the vehicle...

80.2K

Verified Solution

Question

Accounting

Jose purchased a vehicle for business and personal use. In 2021, he used the vehicle 18,000 miles (80% of total) for business and calculated his vehicle expenses using the standard mileage rate (mileage was incurred ratably throughout the year). He paid $1,400 in interest and $150 in property taxes on the car.
Required:
Calculate the total business deduction related to the car.
\table[[,\table[[Total],[Deduction]]],[Schedule C,$,11,770],[Schedule A,$,30]]
image

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

How small an object has to be before it starts to show quantum mechanical affects? Like if...

Physics
Q

POLITICS- What are the stages, which together allow Congress to remove a President from office? For...

Psychology
Q

Design a clamp circuit to clamp the negative extreme of a periodic input waveform of 10...

Electrical Engineering
Q

A scientist isolated DNA from a particular bacterium and decided to analyze it. The sequence...

Biology
Q

A lever 11 m long is used to lift a load of 2000 N The...

Physics
Q

A source of frequency f gives 5 beats sec when sounded with a source of...

Physics
Q

11% of all Americans live in poverty. If 47 Americans are randomly selected, find the...

Basic Math
Q

Identify the base and the exponent in the expression.-2y5baseexponent

Algebra
Q

Which of the following is correct with respect to accounting treatment for research? Always capitalised,...

Accounting
Q

Patterson Inc's income statement, using absorption costing is as follows: Sales $125,000 COGS82.500 Gross Margin...

Accounting
Q

impairment of assets On January 1, 2010, the company acquired an equipment for P8,000,000...

Accounting
Q

From the link below, In Zumwald AG Case Study, how did you get the $9,000...

Accounting