Rex, a cash basis calendar year taxpayer, runs a bingo operation which is illegal under state law.During 2012, a bill designated H.R.9 is introduced into the state legislature which, if enacted, would legitimize bingo games.In 2012, Rex had the following expenses: Of these expenditures, Rex may deduct:

Question

Rex, a cash basis calendar year taxpayer, runs a bingo operation which is illegal under state law.During 2012, a bill designated H.R.9 is introduced into the state legislature which, if enacted, would legitimize bingo games.In 2012, Rex had the following expenses:  Of these expenditures, Rex may deduct:

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The Answer of Rex, a cash basis calendar year taxpayer, runs a bingo operation which is illegal under state law.During 2012, a bill designated H.R.9 is introduced into the state legislature which, if enacted, would legitimize bingo games.In 2012, Rex had the following expenses:  Of these expenditures, Rex may deduct:

Rex, a Cash Basis Calendar Year Taxpayer, Runs a Bingo