Kelly is an employee who incurs $2,200 of business meal expenses in connection with business entertainment and
Question:
Kelly is an employee who incurs $2,200 of business meal expenses in connection with business entertainment and travel, none of which are reimbursed by her employer. $500 of the business meal costs are considered to be lavish or extravagant. How much can Kelly deduct before applying the 2% nondeductible floor on miscellaneous itemized deductions?
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Kelly may deduct 750 before applying the 2 nondeductible floor The deduc...View the full answer
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Related Book For 
Federal Taxation 2017 Individuals
ISBN: 9780134420868
30th Edition
Authors: Thomas R. Pope, Timothy J. Rupert, Kenneth E. Anderson
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