Question: Bruce wanted to be an Olympic skater His family paid
Bruce wanted to be an Olympic skater. His family paid $ 12,000 in 2006 and $ 14,000 in 2007 for travel and training expenses related to skating practices and competitions. Bruce made the 2008 U. S. Olympic team. The U. S. Olympic Committee is an exempt organization. How much of Bruce’s expenses are deductible and when?
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