Question 1: (Please explain your answer) (Please note all questions are for USA Federal Income Taxation)

Jennifer lives and works in Tampa, FL. She travels to Paris for a four-day meeting after which she spends two days touring Bordeaux. All of her airfare is deductible.

True or False

Question 2: (Please explain your answer) (Please note all questions are for USA Federal Income Taxation)

Eleanor, a calendar year cash basis taxpayer who is age 70, has the following transactions in 2021:

Salary from job $120,000

Alimony received from ex-husband (pre-2019 divorce) 20,000

Medical expenses 5,000

Charitable contributions 7,200

Based on this information, calculate Eleanor's AGI.

Question 3: (Please explain your answer) (Please note all questions are for USA Federal Income Taxation)

If the three-out-of-five year presumption test associated with hobby losses is satisfied, then expenses from the hobby can be deducted in excess of the gross income from the activity.

True or False