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30 November, 16:46

Kimberly is a self-employed taxpayer. She recently spent $1,000 for airfare to travel to Italy. What amount of the airfare is deductible in each of the following alternative scenarios? (Leave no answers blank. Enter zero if applicable.)

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  1. 30 November, 16:57
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    The correct answer for personal use is $0 and for business use is $1,000.

    Explanation:

    According to the scenario, the given data are as follows:

    Spent on airfare = $1,000

    So, we can calculate the amount of airfare deduction by analyzing following terms:

    If the travel is for personal use, then there will be $0 deduction for the amount of airfare, because no deductions allows for personal expenses. If the travel is for business use, then there will be 100% deduction which means $1,000 deduction for the amount of airfare, because there is 100% deduction allows for business expense.
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