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Quinn is an employee of Caribbean Imports. His company car i…

Posted byAnonymous August 10, 2026

Questions

Quinn is аn emplоyee оf Cаribbeаn Impоrts. His company car is a 2023 Toyota Prius LXE with a fair-market value of $30,000 and a lease value of $8,250, according to Publication 15-b. During the year, Quinn drove 36,953 miles, of which 6,822 were for personal use. The car was available for use on 250 of the days during the year. All gasoline was provided by the employer and is charged back to Quinn at $0.0585 per mile. What is the amount of the company-car fringe benefit that will appear on Quinn's W-2, using the lease-value rule?Note: Do not round intermediate calculations, only round final answer to 2 decimal places.

Tags: Accounting, Basic, qmb,

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