This is US Tax and Law Study Guide Mary spent $21,500 for an executivedevelopment course at the HarvardBusiness School (including $3,500 oftravel). What is the tax treatment of thiscost?Deduct on Schedule E as a businessexpenseDeduct on Schedule A as anitemized deductionO The cost is not deductibleDeduct on Schedule C as a businessexpense

As an employee, you can claim your work-related training as a miscellaneous, itemized deduction,…

Answered: Mary spent $21,500 for an executive…

Mary spent $21,500 for an executive development course at the Harvard Business School (including $3,500 of travel). What is the tax treatment of this cost?

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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This is US Tax and Law Study Guide

Mary spent $21,500 for an executive
development course at the Harvard
Business School (including $3,500 of
travel). What is the tax treatment of this
cost?
Deduct on Schedule E as a business
expense
Deduct on Schedule A as an
itemized deduction
O The cost is not deductible
Deduct on Schedule C as a business
expense

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