Mikes agi is 120000 before any of the above expenses are

Reference no: EM13598129

Mike incurs the following employment-related expenses in the current year:

Actual automobile expenses $2,500
Moving expenses (deductible under Sec. 217) $4,000
Entertainment expenses $1,500
Travel expenses (including $500 of business meals) $2,500
Professional dues and subscriptions $500
Total $11,000

Mike's AGI is $120,000 before any of the above expenses are deducted. None of the expenses listed above are reimbursed by Mike's employer. He has no other miscellaneous itemized deductions and does not use the standard deduction.

a. What is the amount of Mike's deduction for employment-related expenses?

b. How are these items reported in Mike's tax return?

Reference no: EM13598129

Questions Cloud

The heating division of pfc international produces a : the heating division of pfc international produces a heating element that it sells to its customers for 42 per unit.

Lpgtltimg classmceblock : ltpgtltimg classmceblock srchttps3.amazonaws.comanswer-board-image border0 altuploaded image gte12-22 prep academy

Feather friends inc distributes a high-quality wooden : feather friends inc. distributes a high-quality wooden birdhouse that sells for 24 per unit. variable costs are 12.00

Mary also pays 1000 of investment counseling fees and 500 : in the current year mary incurs 3600 of unreimbursed employment-related travel and entertainment expenses. these

Mikes agi is 120000 before any of the above expenses are : mike incurs the following employment-related expenses in the current yearactual automobile expenses 2500moving expenses

Outback outfitters sells recreational equipment one of the : outback outfitters sells recreational equipment. one of the companys products a small camp stove sells for 100 per

During the year brightlight inc produced 60000 units of : during the year brightlight inc. produced 60000 units of their specialty lights. the specialty lights sell for 99 each.

If by using lean production all queue time during : management of mittel rhein ag of koumlln germany would like to reduce the amount of time between when a customer places

At the beginning of the year honey company had beginning : at the beginning of the year honey company had beginning operating assets of 66000. during the year honey co. had sales

User Account

All Pages