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Question: Tom, a vet, uses his automobile to make house calls for sick animals. During 2016, Tom drove his car a total of 20,000 miles of which 15,000 were for business purposes. Tom incurred the following expenses for his car

Gasoline - 4500

Repairs - 1000

tires - 500

insurance - 600

car washes - 700

Calculate Tom's transportation expense deduction (Before and AGI limitations) using the actual method and the standard method.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M92571978

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