The curerent year mikes agi is 50000 mike has no

Reference no: EM13589627

The curerent year, Mike's AGI is $50,000. Mike has no miscellaneous itemzed deductions other than employment related expenses listed below. Mike attends a professional trade association convention in Los Angeles. He spends three days at the meeting and tow days vactioning before the meeting. Mike was unable to obtain excursion airfare rates ( i.e. staying over a Staurday night) despite the fact that he was on vacation immediately before the meeting. Mike's total expenses include the following:

Airfare $450.00

Meals ( $50 per day) 250.00
Hotel ($100 per day) 500.00
Entertainment of customers
(business is discussed) 500

Mike's empolyer reimburses hin for the business related expenses and, accordingly, Mike receives a reimbursement of $1,400.00 ($450.00 + 150 +300 +500).

a. How much can Mike deduct for employment-related expenses?

b. How is the reimbursement reported on Mike's tax return?

c. How much of the reimbursement may Mike's employer deduct?

Reference no: EM13589627

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