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Determine cassandra deduction for business use of the van

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Cassandra owns her own business and drives her van 15,000 miles a year for business and 5,000 miles a year for commuting and personal use. She purchases a new van in 2020 and wants to claim the largest tax deduction possible for business use.

Cassandra's total auto expenses for 2020 are as follows:

Gas, oil, and maintenance $6,560
Insurance 775
Interest on van loan 1,200
Depreciation (unallocated) 3,160
License 180
Parking fees and tolls (all business) 240

Question 1: Determine Cassandra's 2020 deduction for business use of the van.

Note: The standard mileage rate for 2020 is 57.5 cents per mile.
Round all amounts to the nearest dollar.

Question 2: Cassandra can maximize her deduction by using the standard mileage deduction. Via this method, she can deduct $ for her van. Her other allocable expenses amount to

Reference no: EM132654283

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