Jonas started a new business on April 1, 2024. He is self-employed. He drove 1,150 business miles during the y

Question

Jonas started a new business on April 1, 2024. He is self-employed. He drove 1,150 business miles during the year. He qualifies to use the standard mileage rate. Using the information provided, what amount will be entered on line 9 of his Schedule C (Form 1040)?
 $242
 $684
 $753
 $771

GPT-5 mini · Answer

Standard mileage rate for 2024 = $0.67 per mile.
1,150 miles × $0.67 = $770.50 → rounded to nearest dollar = $771.

Answer: $771.

Jonas started a new business on April 1, 2024. He is self-employed. He drove 1,150 business miles during the year. He qualifies to use the standard mileage rate. Using the information provided, what amount will be entered on line 9 of his Schedule C (Form 1040)?
$242
$684
$753
$771

All Answers 1

Submit Your Answer

Jonas started a new business on April 1, 2024. He is self-employed. He drove 1,150 business miles during the year. He qualifies to use the standard mileage rate. Using the information provided, what amount will be entered on line 9 of his Schedule C (Form 1040)? $242 $684 $753 $771

All Answers 1

Submit Your Answer

Jonas started a new business on April 1, 2024. He is self-employed. He drove 1,150 business miles during the year. He qualifies to use the standard mileage rate. Using the information provided, what amount will be entered on line 9 of his Schedule C (Form 1040)?
$242
$684
$753
$771