Louis incurs directly related entertainment expenses of $4,000, but he is reimbursed by his employer for only
Question:
Louis incurs "directly related" entertainment expenses of $4,000, but he is reimbursed by his employer for only $3,000 after an adequate accounting is made.
a. How are these amounts reported on Louis's tax return for 2017 and 2018?
b. What are the tax consequences if Louis is unable co provide adequate documentation of the expenditures during the course of an IRS audit of his tax return for 2017 and 2018?
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a For 2017 these amounts are reported on Louiss return as follows since the reimbursement is pursu...View the full answer
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Related Book For 
Federal Taxation 2019 Individuals
ISBN: 9780134739670
32nd Edition
Authors: Timothy J. Rupert, Kenneth E. Anderson
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