Bud Barrister is a successful executive. This year he received a promotion and r

Question

Bud Barrister is a successful executive. This year he received a promotion and relocated from a branch office of his firm in New Orleans to the main office in New York. Bud has an adjusted gross income of 80,000 for 2015. Bud has incurred 5,000 of moving expenses. In his line of business, Bud settles a lot of his business deals over meals and entertainment. Bud has incurred unreimbursed meals and entertainment expenses directly related to business of 5,600 and travel and transportation expenses of 3,000. Bud is married, his wife does not work and they file a joint return. Bud had 4,000 of additional second tier itemized deductions. What is the total of Buds itemized deductions for 2015?

Explanation / Answer

Total Itemized Deductions of Bud = 5000 + 5600 + 3000 + 4000

= $17600

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