Fynn incurred and paid the following expenses during 2019: $50 for a ticket for running a
Question:
Fynn incurred and paid the following expenses during 2019:
• $50 for a ticket for running a red light while he was commuting to work.
• $100 for a ticket for parking in a handicapped parking space.
• $200 to an attorney to represent him in traffic court as to the two tickets.
• $500 to an attorney to draft an agreement with a tenant for a one-year lease on an apartment that Fynn owns.
• $1,000 to an attorney to negotiate a reduction in his child support payments.
• $2,500 to an attorney to negotiate a reduction in his qualified alimony payments to a former spouse.
Calculate the amount of Fynn’s deductible expenses.
Step by Step Answer:
South-Western Federal Taxation 2020 Comprehensive
ISBN: 9780357109144
43rd Edition
Authors: David M. Maloney, William A. Raabe, James C. Young, Annette Nellen, William H. Hoffman