Dennis, the owner of Dennis Company, incurs the following expenses while away from home on a 3-week business trip during 2019:   Airfare from Chicago to Boston $800 Hotel charges 1,800 Meal charges 740 Dry cleaning and laundry 100 Local transportation 40 Business entertainment 150 Business gift to Boston customer 45 In addition to the above expenses, Dennis incurred the following expenses for a weekend sightseeing trip to Washington D.C.:   Transportation to Washington D.C. $200 Hotel charges 125 Meal charges 95     Calculate the amount Dennis may deduct for 2019 as travel expenses for the trip. Calculate the amount Dennis may deduct for 2019 as entertainment. Calculate the amount Dennis may deduct for 2019 as business gifts

Income Tax Fundamentals 2020
38th Edition
ISBN:9780357391129
Author:WHITTENBURG
Publisher:WHITTENBURG
Chapter3: Business Income And Expenses
Section: Chapter Questions
Problem 22MCQ
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5. Dennis, the owner of Dennis Company, incurs the following expenses while away from home on a 3-week business trip during 2019:

 

Airfare from Chicago to Boston

$800

Hotel charges

1,800

Meal charges

740

Dry cleaning and laundry

100

Local transportation

40

Business entertainment

150

Business gift to Boston customer

45

In addition to the above expenses, Dennis incurred the following expenses for a weekend sightseeing trip to Washington D.C.:

 

Transportation to Washington D.C.

$200

Hotel charges

125

Meal charges

95

 

 

Calculate the amount Dennis may deduct for 2019 as travel expenses for the trip.



Calculate the amount Dennis may deduct for 2019 as entertainment.



Calculate the amount Dennis may deduct for 2019 as business gifts.

 

 

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