A4 Jackson, a self-employed taxpayer, uses his automobile 90% for business and during 2023 drove a total of 14,000 business miles. Information regarding his car expenses islisted below.Business parking$1401,30018020021011602,8502,800Auto insuranceAuto club dues (includes towing service)Toll road charges (business-related)Oil changes and engine tune-upsRepairsDepreciation allowableFines for traffic violations (incurred during business use) 320Gasoline purchasesWhat is Jackson's deduction in 2023 for the use of his car if he uses the automatic mileage method for 2023?

Deduction means a decrease in the taxable income of the taxpayer. Deductions are provided against…

Answered: Jackson, a self-employed taxpayer, uses…

Individual Income Taxes

43rd Edition

ISBN:9780357109731

Author:Hoffman

Publisher:Hoffman

Chapter9: Deductions: Employee And Self- Employed-related Expenses

Section: Chapter Questions

Problem 28P

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