Question
Problem 9-25 (Algorithmic) (LO. 1, 3, 5) Kim works for a clothing manufacturer as a dress designer. During 2021, she travels to New York City
Problem 9-25 (Algorithmic) (LO. 1, 3, 5) Kim works for a clothing manufacturer as a dress designer. During 2021, she travels to New York City to attend five days of fashion shows and then spends three days sightseeing. Her expenses are as follows: Airfare $1,050 Lodging (8 nights) 1,365 Meals at local restaurants (8 days) 1,260 Airport transportation 85 Assume lodging/meals are the same amount for the business and personal portion of the trip ($171 per day for lodging and $158 per day for meals). If an amount is zero, enter "0". If required, round all interim calculations to nearest dollar. a. Determine Kim's business expenses, presuming no reimbursement. Airfare $fill in the blank 1affaefe3000fcd_1 Lodging fill in the blank 1affaefe3000fcd_2 Meals fill in the blank 1affaefe3000fcd_3 Transportation fill in the blank 1affaefe3000fcd_4 Total $fill in the blank 1affaefe3000fcd_5 What amount may she deduct on her tax return? $fill in the blank 1affaefe3000fcd_6 b. Would the tax treatment of Kim's deduction differ if she was an independent contractor? The deductible expenses would be $fill in the blank a080b8ff0fac065_1 and the expenses would be classified as .
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started