Taxpayer buys tickets to an event that he does not attend

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Reference no: EM13775639

A taxpayer buys tickets to an event that he does not attend with his client. Which of the following statements is true?

The taxpayer can deduct 50% of the costs of the tickets as entertainment expense.

The taxpayer can deduct up to $25 of the costs of the tickets as a gift.

The taxpayer can deduct 100% of the cost of the tickets as a gift.

The taxpayer can deduct up to 50% of the cost of the tickets as a gift.

Either a. or b.

Reference no: EM13775639

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