for Schedule C in individual income tax, how do I calculate the expense for transportation...

80.2K

Verified Solution

Question

Accounting

image

for Schedule C in individual income tax, how do I calculate the expense for transportation of 5725 total miles traveled, entertainment in total of $4200 and gifts of $450? I know only up to $400 can be deducted in gifts but do I just put 0 can be deducted

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students