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Chapter 6 w solutions

Carry from form 2106 to misc id subject to 2 floor 2

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Unformatted text preview: deduct Unreimbursed expenses? Carry from Form 2106 to misc. ID subject to 2% floor. 2 Burkett – Tax I - Chapter 6 Travel expenses – Example 14 & 15, pp. 6.8-9 Ex: 14: Theresa is a self employed CPA who travels to Houston for 10 days. She spends 6 days visiting family & 4 days auditing her client. What is her travel deduction considering the following expenses were incurred? Book $0 340 Meals @ $40 per day Incidentals @ $15 per day x4 Total travel deduction on Sch. C 60 $480 x4 x 50% 80 60 Hotel @ $85 per night x4 340 80 Airplane ticket $195 (Per Book???) Me $195 $675 Ex: 15: What would change if she spent 3 days visiting her family & 7 days auditing her client? Airplane ticket $195 $195 Hotel @ $85 per night 595 Meals @ $40 per day 40*7*50% 140 Incidentals @ $15 per day 60 Total travel deduction on Sch. C $990 What if...
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