Cory incurred and paid the following expenses:
Calculate the amount that Cory can deduct (before any percentage limitations).
A)$5,000.
B)$4,600.
C)$3,000.
D)$1,500.
E)None of the above.

Question

Cory incurred and paid the following expenses: ​
 Calculate the amount that Cory can deduct (before any percentage limitations).
A)$5,000. 
B)$4,600. 
C)$3,000. 
D)$1,500. 
E)None of the above.

Quizplus · Accepted Answer

Cory can deduct the total cost of the trip, which is $4,600, before any percentage limitations. The other expenses listed are not deductible, such as clothing and personal expenses.

Cory Incurred and Paid the Following Expenses: ​

Cory Incurred and Paid the Following Expenses: