Question

	Intermediate Vehicle Expense [2019]
1	In March 2018, Pete drove his 2017 Ford Escape 560 miles round trip to a rental property he owns in the mountains. He rents out the property to hunters and had to make some emergency repairs. Pete purchased the used Escape on 1/3/2018. What is his Schedule E deduction for vehicle expense if he uses SMR?
	A.- $300
	B.- $305
	C.- $325
	D.- $337
2	Which of the following taxpayers CANNOT claim the standard mileage rate?
	A.- Axl bought two new cars this year. He usually uses his Jetta when running errands for his consulting business. Occasionally, he trades cars with his wife and uses her Jeep.
	B.- Brittany leased a new Mustang this year. She uses it to travel between her two business locations.
	C.- Cara has a Kia that she has used in business for seven years using actual expenses. Now that it is fully depreciated she would like to switch to the standard mileage rate.
	D.- Dylon has a Camry that he purchased in 2016. In 2016, he claimed the standard mileage rate. Since then, he has claimed actual expenses.

Answer 1