Question

2017

Sam operates a small chain of pizza outlets in Fort Collins, Colorado. In November of this year Sam decided to attend a two-day management training course. Sam could choose to attend the course in Denver or Los Angeles. Sam decided to attend the course in Los Angeles and take an eight-day vacation immediately after the course. Sam reported the following expenditures from the trip: avesn'+matter 2,500 800 1,20 900 1,500 Course Tuit ion are lotel (10 nights) Rental car (10 days) Meals (10 days) What amount of travel expenditures can Sam deduct?

Answer 1

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Answer is highlighted in yellow: As per Tax year 2017: Solution: $ 3,070 Answer: Explanation: lowed) $ - Travel is primarily pesonal so the airfare is not deductible, the following will be deductible as follows: Course tuition $ 2,500 Air fare (disallowed) Hotel (1200/10*2) $ 240 Rental care (900/10*2) $ 180 Meal (1500/10*2)*50% $ 150 Travel expenditure deduction $ 3,070