[Peterman25]

NINJA Question –

Help me out here…

This SIM uses the business mileage rate. According to the problem, we are working in the 2014 tax year.

According to this the mileage rate for 2104 is $.56

https://www.irs.gov/2014-Standard-Mileage-Rates-for-Business,-Medical-and-Moving-Announced

And for 2013 it is $.565

https://www.irs.gov/uac/Newsroom/2013-Standard-Mileage-Rates-Up-1-Cent-per-Mile-for-Business,-Medical-and-Moving

The solution is using $.565 (from 2013). From what I am reading that is not the correct rate.

Travel expense = 48 weeks × 2 trips/week × 60 miles round trip = 5,760 miles; 5,760 miles × ($0.565 – $0.30) = $1,526

Am I missing something or should this be fixed?

BEC 7/14 - PASS
FAR 10/14 - PASS
AUD 1/15 - PASS
REG 4/15 - PASS

AZ license - Official 8/20/2015