Tco g dave had to drive from pittsburgh to the

(TCO G) Dave had to drive from Pittsburgh to the Cleveland Clinic numerous times during 2016; he
incurred 1,053 miles and spent $650 on gas. What, if anything, can he deduct as a medical expense on
his 2016 return?
You Answered
$650
$200
Nothing, travel expenses are not a deductible medical expense.
$850
Chapter 8, standard mileage rate for medical-related travel in 2016 is 19 cents/mile.
Question 5
5 / 5 pts
(TCO G) Which is NOT a typical expense deductible for home office?
Electricity
Correct!
Swimming pool
Heating costs

Depreciation
Chapter 7, page 7-24
Question 6
15 / 15 pts
(TCO G) Lewis owned an LP interest in Kate Partners, LP. He did not materially participate in the activity.
On the date he gifted the Kate partnership interest to his son, Travis, his basis was $25,000. Suspended
losses amounted to $15,000 as of that date. What is Travis’s adjusted basis in the gift? Show your work!
Your Answer:
Lewis's adjusted basis $25,000
Suspended losses + $15,000
Travis's adjusted basis $40,000
Travis's adjusted basis for the gift is $40,000.
Professor’s Response:
None of the suspended losses are deductible, but Travis will have an increased basis of
$40,000:
Donor's adjusted basis
$25,000