Audry, age 38 and single, earns a salary of $59,000. She has interest income of $1,600 and
Question:
Audry, age 38 and single, earns a salary of $59,000. She has interest income of $1,600 and has a $2,000 long-term capital loss from the sale of a stock investment. Audry incurs the following employment-related expenses during the year:
Transportation .............................................. $5,500
Meals .......................................................... 2,800
Lodging ...................................................... 4,200
Entertainment of clients .................................... 2,200
Professional dues and subscriptions ......................... 300
Under an accountable plan, Audry receives reimbursements of $4,500 from her employer. Calculate her AGI and itemized employee business expenses?
Step by Step Answer:
As the employer did not identify what the reimbursement was for Audry must allocate it between the i...View the full answer
South Western Federal Taxation Individual Income Taxes 2017
ISBN: 9781305873988
40th Edition
Authors: William H. Hoffman, David M. Maloney, William A. Raabe, James C. Young, Nellen
