What deduction amount may anne claim


Question: Anne Able, an employee of Corp. A, uses her personal automobile each day to drive to and from Corp. A's bank where she deposits the company receipts. Anne also uses the vehicle about once per month to drive to the local office supply store to purchase copy machine paper and other office supplies. Assume that Anne is not reimbursed by Corp. A for the use of her vehicle, that she drove a total of 5,100 business miles in 20x2 and that the IRS 20x2 standard vehicle mileage rate is 65.5C per mile. Anne's 20x2 AGI is $40,000. What deduction amount may Anne claim on her 20x2 Form 1040? A. $ 2,930 B. 2,120 c. 1,470 D. 1,100 None of the above

 

 

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Accounting Basics: What deduction amount may anne claim
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