Shane,a self-employed junior partner in a law firm,makes the following gifts with their values noted: $$\begin{array} { | l | r | }
\hline \text { Managing partner in Shane's firm } & \$ 30 \
\hline \text { Shane's personal assistant } & 40 \
\hline 4 \text { clients } ( \$ 27 \text { each) } & 108 \
\hline
\end{array}$$ What amount of the gifts is deductible?

Question

Shane,a self-employed junior partner in a law firm,makes the following gifts with their values noted: $$\begin{array} { | l | r | } 
\hline \text { Managing partner in Shane's firm } & \$ 30 \
\hline \text { Shane's personal assistant } & 40 \
\hline 4 \text { clients } ( \$ 27 \text { each) } & 108 \
\hline
\end{array}$$ What amount of the gifts is deductible?

Quizplus · Accepted Answer

The total value of the gifts is $30 + $40 + $108 = $178. However, only gifts to clients are deductible, so the deductible amount is $108.

Shane,a Self-Employed Junior Partner in a Law Firm,makes the Following