This Year Clark Leased a Car to Drive Between His

question 80

Multiple Choice

This year Clark leased a car to drive between his office and various work sites. Clark carefully recorded that he drove the car 23,000 miles this year and paid $7,200 of operating expenses ($2,700 for gas, oil, and repairs, and $4,500 for lease payments) . What amount of these expenses may Clark deduct as business expenses?

• A)$7,200
• B)Clark cannot deduct these costs because taxpayers must use the mileage method to determine any transportation deduction.
• C)$4,500
• D)$2,700
• E)Clark is not entitled to any deduction if he used the car for any personal trips.

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Definitions:

Sculpture

The art of creating two- or three-dimensional figures and forms by carving, modeling, welding, or casting materials.

Bronze Shaka Triad

A historical bronze sculpture or set of sculptures from Japan depicting Buddha Shakyamuni flanked by two attendants, showcasing Buddhist art.

Horyuji Complex

A historic Buddhist temple complex in Ikaruga, Nara Prefecture, Japan, known for its pagoda and main hall, representing some of the oldest wooden buildings in the world.

Tori Busshi

A renowned Japanese sculptor from the Asuka period, credited with creating the iconic Buddhist statue Shaka Nyorai.