Question
In the following examples: indicate the amount is (1) deductible for AGI, (2) Deductible from AGI (3) neither deductible from AGI a. Linda is a
In the following examples: indicate the amount is (1) deductible for AGI, (2) Deductible from AGI (3) neither deductible from AGI
a. Linda is a cosmetic sales representative receiving high pay; therefore she does not receive any reimbursement from her employer for any advertising fees that are necessary for the job. She spent 5k on required advertising expenses.
b. George spent 1k for travel on his job as an employee. His employer reimbursed him for $750 of the amount spent (he did not report the reimbursement as wages received)
c. Freddy is a plumber that is employed by XYZ plumbing and spent $125 for tools for his job, but he was not reimbursed by the company he works for.
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Managerial Accounting
Authors: Ray H. Garrison, Eric W. Noreen, Peter C. Brewer
13th Edition
978-0073379616, 73379611, 978-0697789938
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