Question

Charles, a self-employed real estate agent, attended a conference on the impact of some new building codes on real estate investments. His unreimbursed expenses were as follows: Airfare 518 310 188 678 Meals Tuition and fees How much can Charles deduct on his return? Airfare Lodging Meals Tuition and Fees Total

Answer 1

Percentage Expenses Amount to of deductionbe deducted Particulars ncurred allowed 100% 100% Airfare Lodgin Meals Tuition and fees Total 510.001 310.00 | 108.00 678.00 510.00 310.00 54.00 678.00 $1,552.00 50% $1,606.00 For self-employed people, the deductions and percentage of deduction is given above So the total amount of deduction he can claim is $1,552 For the remaining questions, please post t separatey