Which of the following is a true statement about travel that has both business and personal aspects?
A)Transportation costs are always fully deductible.
B)Meals are not deductible for this type of travel.
C)Only half of the cost of meals and transportation is deductible.
D)Thededuction for the cost of lodging and incidental expenditures is limited to those amounts incurred during the business portion of the travel.
E)None of the choices are correct.

Question

Quizplus · Accepted Answer

The deduction for the cost of lodging and incidental expenditures is limited to those amounts incurred during the business portion of the travel. This means that any expenses related to personal aspects of the travel cannot be deducted. Additionally, meals and transportation expenses are only 50% deductible in this scenario.

Which of the Following Is a True Statement About Travel