Answered: Anthony's business days for the year…

Anthony's business days for the year total 20 days and his personal days while traveling total 8 days. How much travel expense ca

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

* Your answer is incorrect.
Anthony lives in Tacoma and frequently travels to Los Angeles for business. He incurs the following expenses for the current year:
Airfare $5,000
Lodging
Meals
$250 per day
$81 per day
Anthony's business days for the year total 20 days and his personal days while traveling total 8 days. How much travel expense can
Anthony deduct on his tax return assuming that each trip has more than 50% of the days utilized for business activity in 2023?
Deduction $
11620

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