Carol makes the following business gifts during the tax year. Calculate Carol's allowed deduction for each business gift and her total allowed deduction. If an amount is zero, enter "0". Donee Amount Deduction 1.   Mr. Jones (a client) $20   $fill in the blank 1 2.   Mr. Brown (a client) 32   fill in the blank 2 3.   Mrs. Green (a client) received a $15 gift while her husband, Mr. Green (a non-client) received an $18 gift 33   fill in the blank 3 4.   Ms. Gray (Carol's supervisor) 45   fill in the blank 4 5.   Mr. Edwards (a client) receiving a display rack with Carol's company name on it 75   fill in the blank 5 6.   Various customers (receiving ball point pens with the company name on them) 140   fill in the blank 6   Total business gift deduction   $fill in the blank 7

CONCEPTS IN FED.TAX.,2020-W/ACCESS
20th Edition
ISBN:9780357110362
Author:Murphy
Publisher:Murphy
Chapter2: Income Tax Concepts
Section: Chapter Questions
Problem 34P
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Carol makes the following business gifts during the tax year.

Calculate Carol's allowed deduction for each business gift and her total allowed deduction. If an amount is zero, enter "0".

Donee

Amount Deduction
1.   Mr. Jones (a client) $20   $fill in the blank 1
2.   Mr. Brown (a client) 32   fill in the blank 2
3.   Mrs. Green (a client) received a $15 gift while her
husband, Mr. Green (a non-client) received an $18 gift

33
 
fill in the blank 3
4.   Ms. Gray (Carol's supervisor) 45   fill in the blank 4
5.   Mr. Edwards (a client) receiving a display rack with Carol's company name on it 75   fill in the blank 5
6.   Various customers (receiving ball point pens with the company name on them) 140   fill in the blank 6
  Total business gift deduction   $fill in the blank 7
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