1. Lisa incurred the following employee business expenses: Meals $2,000 Lodging $4,000 Her employer reimburses...
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Accounting
1. Lisa incurred the following employee business expenses:
Meals $2,000
Lodging $4,000
Her employer reimburses her a total of $4,500 for all of these expenses under an accountable plan. Ignoring any AGI offsets, what is her deduction for these expenses?
Enter your answer without commas or dollar signs.
2.
During 2014 Andy, a single taxpayer has $300,000 of adjusted gross income and pays the following during the year:
Qualified Business Entertainment $140,000
What is Andys line 40 entry on Form 1040?
Enter your answer without commas or dollar signs. The overall phase out threshold for itemized deductions for a single filer in 2014 is $254,200.
3.
During 2014 Andy, a head of household taxpayer, has $3,000,000 of adjusted gross income and paid the following during the year:
Qualified mortgage interest $65,000
What is Andys line 40 entry on Form 1040?
Enter your answer without commas or dollar signs.
Hint: The deduction will not be completed erased. Pay attention to the taxpayer's filing status. For 2014, the head of household threshhold is $279,650.
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