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Author Question: Gwen traveled to New York City on a business trip for her employer. Gwen spent 4 days in business ... (Read 52 times)

captainjonesify

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Question 1

Gayle, a doctor with significant investments in the stock market, traveled on a cruise ship to Bermuda.  Investment specialists provided daily seminars which Gayle attended.  The cost of the cruise for four days is $2,500. Gayle can deduct (before application of any floors)
◦ $0.
◦ $1,250.
◦ $2,000.
◦ $2,500.

Question 2

Gwen traveled to New York City on a business trip for her employer. Gwen spent 4 days in business meetings and conferences and then spent 2 days sightseeing in the area. Gwen's plane fare for the trip was $250. Meals cost $160 per day. Hotels and other incidental expenses amounted to $250 per day.  Gwen was not reimbursed by her employer for any expenses. Her AGI for the year is $50,000 and she itemizes but has no other miscellaneous itemized deductions. Gwen may deduct (after limitations)
◦ $570.
◦ $890.
◦ $1,890.
◦ $1,570.


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Marked as best answer by captainjonesify on Sep 13, 2020

Sierray

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captainjonesify

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Reply 2 on: Sep 13, 2020
Wow, this really help


fatboyy09

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Reply 3 on: Yesterday
Excellent

 

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