Rachael is a self-employed accountant. During the year, Rachael incurs the following unreimbursed expenses: (Click the icon to view the expenses.) Requirement Identify which of these expenses are deductible and the amount that is deductible by Rachael. Indicate whether they are deductible for or from AGI. (Enter a "0" in the Amount of deduction column if an item is not deductible. Ignore any AGI limitations for the purposes of this problem.) Item Amounts Deductible? Amount of deduction Data table Travel to client locations $ 1,100 Subscriptions to professional journals 180 Taking potential clients to lunch 300 Photocopying 75 Item Amount Travel to client locations $ 1,100 Subscriptions to professional journals 180 Taking potential clients to lunch 300 75 Photocopying Total 1,655 Print Done ×
Rachael is a self-employed accountant. During the year, Rachael incurs the following unreimbursed expenses: (Click the icon to view the expenses.) Requirement Identify which of these expenses are deductible and the amount that is deductible by Rachael. Indicate whether they are deductible for or from AGI. (Enter a "0" in the Amount of deduction column if an item is not deductible. Ignore any AGI limitations for the purposes of this problem.) Item Amounts Deductible? Amount of deduction Data table Travel to client locations $ 1,100 Subscriptions to professional journals 180 Taking potential clients to lunch 300 Photocopying 75 Item Amount Travel to client locations $ 1,100 Subscriptions to professional journals 180 Taking potential clients to lunch 300 75 Photocopying Total 1,655 Print Done ×
Chapter2: Income Tax Concepts
Section: Chapter Questions
Problem 33P
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Question
Transcribed Image Text:Rachael is a self-employed accountant. During the year, Rachael incurs the following unreimbursed expenses:
(Click the icon to view the expenses.)
Requirement
Identify which of these expenses are deductible and the amount that is deductible by Rachael. Indicate whether they are deductible for or from AGI. (Enter a "0" in the Amount of deduction column if an item is not deductible. Ignore any AGI limitations for the purposes of
this problem.)
Item
Amounts
Deductible?
Amount of deduction
Data table
Travel to client locations
$
1,100
Subscriptions to professional journals
180
Taking potential clients to lunch
300
Photocopying
75
Item
Amount
Travel to client locations
$
1,100
Subscriptions to professional journals
180
Taking potential clients to lunch
300
75
Photocopying
Total
1,655
Print
Done
×
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