Question

Fred, who is self-employed, travels from Denver to Miami primarily on business. He spends five days...

Fred, who is self-employed, travels from Denver to Miami primarily on business. He spends five days conducting business and two days sightseeing. His expenses are $685 (airfare), $245 per day (meals), and $130 per night (lodging).

If required, round your answers to the nearest dollar.

Fred's deductible expenses are:

  • Airfare: $
  • Lodging:$
  • Meals: $
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Answer #1

Answer:$1947.50

Fred's deductible expenses are:

Airfare: $ 685

Lodging: $130 x 5 days = $650

Meals: 5 days x $245 x 50% = $612.50

Total deductible expenses = $685 + $650 + $612.50 = $1947.50

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