Using the actual method-expense deduction

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Reference no: EM13775636

Derrick uses his personal car for work as an employee. In 2014, Derrick drove 6,000 business miles and 30,000 total miles. His car-related expenses include $3,600 for gas; $600 for insurance; $100 for license and registration fees; $2,900 for depreciation, and $150 for business-related parking and tolls. Derrick's employer does not reimburse him for the business use of his car. Using the actual method, Derrick's 2014 car expense deduction is:

$1,440.

$1,470.

$1,670.

$1,590.

None of the above.

Reference no: EM13775636

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