During the holiday season, a taxpayer gives business gifts to 25 customers. fte gifts have the following fair market values: 7 gifts of property valued at $10 each 5 gifts of property valued at $20 each 13 gifts of property valued at $50 each
How much can the taxpayer deduct for business gifts?
A) $312.50
B) $495.00
C) $625.00
D) $247.00
Correct Answer:
Verified
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