Problem 9-31 (Algorithmic) (LO. 3,5) In June of this year, Dr. and Mrs. Bret Spencer traveled to Denver to attend a three-day conference sponsored by the American Society of Implant Dentistry. Bret, a self-employed practicing oral surgeon, participated in scheduled technical sessions dealing with the latest developments in surgical procedures. On two days, Mrs. Spencer attended group meetings where various aspects of family tax planning were discussed. On the other day, she went sightseeing. Mrs. Spencer does not work for her husband, but she prepares their tax returns and handles the family investments. Expenses incurred in connection with the conference are summarized below. Airfare two tickets) $1,600 Lodging (single and double occupancy are the same rate-$295 each day) 885 Meals ($320 x 3 days)* Conference registration fee (includes $120 for Family Tax Planning sessions) Car rental *Split equally between Dr. and Mrs. Spencer. If an amount is zero, enter "0". If required, round your interim calculations to nearest dollar. How much, if any, of these expenses can the Spencers deduct? 960 900 295 constitute a trade or business. Therefore, she can deducts of her Mrs. Spencer's activities expenses. Bret's deductible expenses are: Airfare (one ticket) Lodging Meals 885 960 295 Lodging (single and double occupancy are the same rate-$295 each day) Meals ($320 x 3 days)* Conference registration fee (includes $120 for Family Tax Planning sessions) 900 Car rental *Split equally between Dr. and Mrs. Spencer. If an amount is zero, enter "0". If required, round your interim calculations to nearest dollar. How much, if any, of these expenses can the Spencers deduct? constitute a trade or business. Therefore, she can deducts of her Mrs. Spencer's activities expenses. Bret's deductible expenses are: Airfare (one ticket) Lodging Meals Less: 50% limit [III Registration fee Car rental Total Problem 9-31 (Algorithmic) (LO. 3,5) In June of this year, Dr. and Mrs. Bret Spencer traveled to Denver to attend a three-day conference sponsored by the American Society of Implant Dentistry. Bret, a self-employed practicing oral surgeon, participated in scheduled technical sessions dealing with the latest developments in surgical procedures. On two days, Mrs. Spencer attended group meetings where various aspects of family tax planning were discussed. On the other day, she went sightseeing. Mrs. Spencer does not work for her husband, but she prepares their tax returns and handles the family investments. Expenses incurred in connection with the conference are summarized below. Airfare two tickets) $1,600 Lodging (single and double occupancy are the same rate-$295 each day) 885 Meals ($320 x 3 days)* Conference registration fee (includes $120 for Family Tax Planning sessions) Car rental *Split equally between Dr. and Mrs. Spencer. If an amount is zero, enter "0". If required, round your interim calculations to nearest dollar. How much, if any, of these expenses can the Spencers deduct? 960 900 295 constitute a trade or business. Therefore, she can deducts of her Mrs. Spencer's activities expenses. Bret's deductible expenses are: Airfare (one ticket) Lodging Meals 885 960 295 Lodging (single and double occupancy are the same rate-$295 each day) Meals ($320 x 3 days)* Conference registration fee (includes $120 for Family Tax Planning sessions) 900 Car rental *Split equally between Dr. and Mrs. Spencer. If an amount is zero, enter "0". If required, round your interim calculations to nearest dollar. How much, if any, of these expenses can the Spencers deduct? constitute a trade or business. Therefore, she can deducts of her Mrs. Spencer's activities expenses. Bret's deductible expenses are: Airfare (one ticket) Lodging Meals Less: 50% limit [III Registration fee Car rental Total