Shane,an employee,makes the following gifts,none of which are reimbursed:

What amount of the gifts is deductible before application of the 2% of AGI floor for miscellaneous itemized deductions?

Question

Shane,an employee,makes the following gifts,none of which are reimbursed:

What amount of the gifts is deductible before application of the 2% of AGI floor for miscellaneous itemized deductions?

Quizplus · Accepted Answer

A) $25 (assistant) + $100 (4 × $25 for customers) = $125. The gift to his manager is not deductible. Deductible gifts are limited to $25 per donee.

Shane,an Employee,makes the Following Gifts,none of Which Are Reimbursed