Please answer all parts Michelle operates several food trucks. Indicate the amount (if any) that she can deduct as an ordinary and necessary business deduction in each of the following situations. (Leave no answers blank. Enter zero if applicable.) b. Michelle paid $810 to reserve a parking place for her food truck for the fall football season outside the local football Stadium. Michelle also paid $155 for tickets to a game for her children. Deductible amount__ c. Michelle provided a candidate with free advertising painted on her truck during the candidate’s campaign for city council. Michelle paid $740 to have the ad prepared and an additional $440 to have the ad removed from the truck after the candidate lost the election Deductible amount__ d. Michelle realized a $1,260 loss when she sold one of her food trucks to her father, a related party Deductible amount__
Please answer all parts
Michelle operates several food trucks. Indicate the amount (if any) that she can deduct as an ordinary and necessary business deduction in each of the following situations. (Leave no answers blank. Enter zero if applicable.)
b. Michelle paid $810 to reserve a parking place for her food truck for the fall football season outside the local football Stadium. Michelle also paid $155 for tickets to a game for her children.
Deductible amount__
c. Michelle provided a candidate with free advertising painted on her truck during the candidate’s campaign for city council. Michelle paid $740 to have the ad prepared and an additional $440 to have the ad removed from the truck after the candidate lost the election
Deductible amount__
d. Michelle realized a $1,260 loss when she sold one of her food trucks to her father, a related party
Deductible amount__
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