Question
In the current year, Matt's AGI is $52,000. Matt has no miscellaneous itemized deductions other than the employment-related expenses listed below. Matt attends a professional
In the current year, Matt's AGI is $52,000. Matt has no miscellaneous itemized deductions other than the employment-related expenses listed below. Matt attends a professional trade association convention in Los Angeles. He spends three days at the meeting and two days vacationing before the meeting. Matt's total expenses include the following:
Airfare $500
Meals ($64 per day) 320
Hotel ($120 per day) 600
Entertainment of customers (business is discussed) 300
Total $1,720
1. How much can Matt deduct for employment-related expenses?
2.How much of the reimbursement may Matt's employer deduct?
3. How would your answers change if Matt spent two days at the meeting and three days vacationing? Assume Matt received no reimbursement from his employer.
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