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MCS,PHD
Argosy University/ Phoniex University/
Nov-2005 - Oct-2011
Professor
Phoniex University
Oct-2001 - Nov-2016
Ryan is self-employed. This year Ryan used his personal auto for several long business trips. Ryan paid $2,050 for gasoline on these trips. His depreciation on the car if he was using it fully for business purposes would be $4,500. During the year, he drove his car a total of 17,500 miles (a combination of business and personal travel). (Do not round intermediate calculations. Round your final answer to the nearest dollar amount.)
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| a. |
Ryan can provide written documentation of the business purpose for trips totaling 5,250 miles. What business expense amount can Ryan deduct (if any) for these trips? |
Maximum Deductible Amount:
| b. |
Ryan estimates that he drove approximately 1,915 miles on business trips, but he can only provide written documentation of the business purpose for trips totaling 1,200 miles. What business expense amount can Ryan deduct (if any) for these trips? |
Maximum Deductible Amount:
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