Indicate the proper treatment in the current year for the underlined amounts. Treat each item as an independent event. Indicate whether the amount is deductible or not; if deductible whether it is deductible FOR or FROM AGI; and indicate the amount of the deduction for the current year considering any relevant limitations. Assume the taxpayer has deductions greater than the standard deduction, has AGI of $69,000 without regard to the following transactions and has no "total" income limitations related to itemized deductions.
-Travel and lodging expense of $800 incurred by an employee on a business related trip (no reimbursement) . Amount: $800
A) Not Deductible
B) Deductible - For AGI
C) Deductible - From AGI
Correct Answer:
Verified
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