Transportation (LO 3.3)
Teresa is a self-employed civil engineer who uses her automobile for business. Teresa drove her automobile a total of 11,965 miles during 2020, of which 80% was business mileage. The actual cost of gasoline, oil,
If required, round your answers to the nearest dollar.
a. How much is Teresa's transportation deduction based on the standard mileage method?
$fill in the blank f77e440a8016001_1
b. How much is Teresa's transportation deduction based on the actual cost method?
$fill in the blank 4eb51bfe9039fc8_1
c. Which method should Teresa use to calculate her transportation deduction?
Since the
method yields the larger deduction, Teresa should use the
method to determine her deduction.
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