Reference no: EM132741853
Question - Mr. Alonso Sotomeyer is required by his employer to use his own automobile in the course of his employment. His total automobile costs for the year, are as follows:
Gasoline Receipts - $5,200
Repairs and maintenance - 1,000
Insurance for the year - 1,200
Lease costs for the year (1,250 per month) - 15,000
To compensate him, his employer pays an annual allowance of $12,000. During 2020, he drove his automobile a total of 48,260 kilometers, of which, 19,960 were employment related. What amounts will Mr. Sotomeyer include and deduct from his 2020 employment income related to the use of his automobile?
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