Miguel (age 40 and single) is a sole proprietor. In 2022, he incurred 500 business miles from traveling between his two offices. In addition, he went on a business trip to Canada during the current year. Miguel left on a Thursday, worked for the next 5 days, and then spent 4 more days vacationing before going back to the US. Miguel incurred the following expenses for the entire trip: Airfare $1,650 Meals $2,000 Lodging $3,000 Furthermore, Miguel also gave boxes of chocolate to all of his clients around the holidays. The chocolates are worth $30 per box, and he gave away 100 boxes. Given only the information in this problem, please indicate the type (for AGI or itemized) and amount of deductions available to Miguel?

Answer rating: 100% (QA)

Based on the information provided lets analyze the deductions available to Miguel 1 Business Mileage Deduction Miguel can deduct the business mileage ... View the full answer