[9] Lancelot owns a cabin that he rented for 4 months and lived in for...

70.2K

Verified Solution

Question

Accounting

image
[9] Lancelot owns a cabin that he rented for 4 months and lived in for 2 months. Lancelot received 56,000 in rental income, Lancelnte..... A. $3,200 B. $1,200 C. $2,400 D. $3,600 [10] Bonnie drove her new car, which cost $12,000, a total of 16,000 miles during the current year, Or those miles. 12,000 were related to her business (Bonnie is self-employed). Bonnle paid $5,500 for gas, $1,400 for repairs, and $600 be $2,400 if the car was used 100% for business. If Bonnional first year depreciation, first-year MACAS depreciation would and transportation expense? A. $5,625 B. $9,900 C. $7,425 D. $6,975 [11] Ron, a single taxpayer, contributed $6,800 to his IRA on November 4,2022 . He is covered under his employer's retirement program. The following is Ron's total income for 2022: What is his allowable IRA deduction on his 2022 income tax return? A. $6,000 B. $1,800 C. $0 D. $6,800

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students