How much is teresa transportation deduction based

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Question: Teresa is a self-employed civil engineer who uses her automobile for business. Teresa drove her automobile a total of 12,000 miles during 2022, of which 5,600 were business miles before July 1 and 4,000 were business miles after June 30. The actual cost of gasoline, oil, depreciation, repairs, and insurance for the year was $6,400. Teresa is eligible to use the actual or standard method.

If required, round your answers to the nearest dollar.

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a. How much is Teresa's transportation deduction based on the standard mileage method?

b. How much is Teresa's transportation deduction based on the actual cost method?

Reference no: EM133378943

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