Sam operates a small chain of pizza outlets in Fort Collins, Colorado. In November of this year, Sam decided to attend a two-day management training course. Sam could choose to attend the course in Denver or Los Angeles. Sam decided to attend the course in Los Angeles and take an eight-d immediately after the course. Sam reported the following expenditures from the trip: Course Tuition Airfare Hotel (10 nights) Rental car (10 days) Meals at restaurants (10 days) $ 3,050 990 3,100 710 3,400
Sam operates a small chain of pizza outlets in Fort Collins, Colorado. In November of this year, Sam decided to attend a two-day management training course. Sam could choose to attend the course in Denver or Los Angeles. Sam decided to attend the course in Los Angeles and take an eight-d immediately after the course. Sam reported the following expenditures from the trip: Course Tuition Airfare Hotel (10 nights) Rental car (10 days) Meals at restaurants (10 days) $ 3,050 990 3,100 710 3,400
Chapter2: Income Tax Concepts
Section: Chapter Questions
Problem 71IIP
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