Author Question: Gwen traveled to New York City on a business trip for her employer. Gwen spent 4 days in business ... (Read 46 times)

captainjonesify · **on:** Sep 13, 2020

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.

Sierray · **Reply #1 on:** Sep 13, 2020

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