Your client, Ms. I. M. Gorgeous, is an aspiring actress. She has managed to earn a living doing television commercials but was unable to get the acting parts she really wanted. She decided to have botox injections in her forehead and collagen enhancements to
Your client, Ms. I. M. Gorgeous, is an aspiring actress. She has managed to earn a living doing television commercials but was unable to get the acting parts she really wanted. She decided to have botox injections in her forehead and collagen enhancements to
Chapter5: Gross Income: Exclusions
Section: Chapter Questions
Problem 29P
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Question
- Your client, Ms. I. M. Gorgeous, is an aspiring actress. She has managed to earn a living doing television commercials but was unable to get the acting parts she really wanted. She decided to have botox injections in her forehead and collagen enhancements to her lips. After these procedures, her career improved dramatically and she received several movie offers. Ms. Gorgeous is sure that she should be able to deduct the cost of the cosmetic enhancements because she read about another actress having a face lift in 1988 and deducting the cost on her tax return as a medical expense. Can Ms. Gorgeous deduct the cost of these procedures? [Research Aid: Section 213(d)(9)]
Expert Solution
Deductible expenses:
Deductible expenses are those that can be subtracted from a professional or company's income before it is subject to taxation. When it comes to what exactly is meant by ordinary, necessary, and reasonable expenses
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ISBN:
9781305224414
Author:
JENNINGS
Publisher:
Cengage