Lily (self-employed) went from her office in Portland to Lisbon, Portugal on business. While there, she spent part of the time on vacation. How much of the air fare of $5,000 can she deduct based on the following assumptions:
a. Lily was gone five days (i.e., three business and two personal).
b. Lily was gone five weeks (i.e., four business and one personal).
c. Lily was gone five weeks (i.e., three business and two personal).
Correct Answer:
Verified
b. $5,000.
c. $3,000. (60% × ...
View Answer
Unlock this answer now
Get Access to more Verified Answers free of charge
Q103: Nick Lee is a linebacker for the
Q106: Myra's classification of those who work for
Q108: Once set for a year, when might
Q113: How are combined business/pleasure trips treated for
Q117: When is a taxpayer's work assignment in
Q125: In terms of income tax treatment, what
Q126: Brian makes gifts as follows:

Q128: Travel status requires that the taxpayer be
Q132: Rocky has a full-time job as an
Q133: Alfredo, a self-employed patent attorney, flew from
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents