Larry is the sole proprietor of a consulting business. This year, he took a business trip to
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Larry is the sole proprietor of a consulting business. This year, he took a business trip to Miami, spending 4 days conducting business and 6 days vacationing. His expenses for the entire trip were as follows: Air fare $ 700 Lodging 1,000 Meals (eaten at a restaurant) 600 Golf green fees (half was with a client) 450 Explain how the expenses are treated on Larry’s return. Be very specific as to amounts and locations of reportable items.
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Exense unts re treted s either untble r ununtble untble exense unts re subjet t vriety f Internl Rev... View the full answer
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