Calculate the firms educational expense deduction

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Reference no: EM131972317

Problem

Sally and Martha are tax accountant partners operating a tax firm in San Diego. Every year, they attend the Tax Planning Forum in Las Vegas featuring nationally renowned tax experts. The Forum lasts for 2 days. One evening Sally and Martha attend a show and another evening they lose $10 gambling on the nickel slot machines. Their expenses are as follows: Airfare $ 400 Hotels 300 Meals 180 Forum registration 1,000 Tickets to show 100 Gambling loss 10 $1,990. Calculate the firm's educational expense deduction for the current year.

Reference no: EM131972317

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