Question1 sarah purchased a new car at the starting of the

Reference no: EM13348351

Question:

1) Sarah purchased a new car at the starting of the year. She makes an adequate accounting to her employer and receives a $2,400 reimbursement in 2013 for employment-related business miles. She incurs the given expense related to both business and personal use:

Gas and Oil .......................................... $6,000

Repairs and maintenance ...................$2,500

Depreciation .........................................$3,000

Insurance ..............................................$1,800

Total ......................................................$13,300

She also spent $200 on tolls and parking that were related to business. During the year she drove a total of 20,000 miles.

a) Determine Sarah's deductible transportation expense, using the actual expense method.

b) Evaluate Sarah's deductible transportation expense, using the standard mileage method.

Reference no: EM13348351

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