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During the year, Murray, a sole proprietor, paid the expenses shown in the following table. Each of the expenses is assumed to be ordinary, necessary,
During the year, Murray, a sole proprietor, paid the expenses shown in the following table. Each of the expenses is assumed to be ordinary, necessary, and substantiated while engaging in an activity for profitaunless otherwise noted. Determine the amounts that are deductible as a business expense reported on Schedule For each item.enter the appropriate amounts in the associated cells. If the amount is zero, enter a zero io Expense Amount Amount deductible on Schedule Property taxes paid on Murray's TOOM 51.620.00 personal use principal residence 2 2. Wages paid to Murray's employees $15.400.00 123 3. Amount paid for a dinner, which Murray attended thanking his Customers $350.00 122 Contributions to the $1,000.00 campaign or a candidate for governor E 5. Interest pudo loan used to purchase 52.750.00
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