Baker, a sole proprietor CPA, has several clients that do business in Spain. Whi

Question

Baker, a sole proprietor CPA, has several clients that do business in Spain. While on a four-week vacation in Spain, Baker too a five-day seminar on Spanish business practices that cost $800. Baker's round-trip airfare to Spain was $600. While in Spain, Baker spent an average of $200 per day on accommodations, local travel, and other incidental expenses, for total expenses of $2,800. What amount of total expense can Baker deduct on Form 1040 Schedule C related to this situation? (Points : 4)      

$700
       $1,200
       $1,800
       $4,100

Explanation / Answer

answer is 3rd 1800

baker can take deduction of expenses related to seminar=

registration fee = 800

out of pocket expenses related to seminar = 200*5 = 1000

total deduction = 1000+800 = 1800

Related Questions

Navigate

• Browse (All)
• Browse B
• Subjects

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.