During 2014, Myca Sells Her Car for $5,000

Multiple Choice

During 2014, Myca sells her car for $5,000. She acquired the car in 2010 for $11,000 and has used it 60% for business and 40% for personal use. She deducted $5,280 in depreciation. What is the taxable gain or loss from the sale of the car attributable to her business use?

A) $3,680 gain
B) $ 432 gain
C) $ 720 loss
D) $2,280 loss
E) $1,680 gain