Allowing for the Overall Limitation (50% Reduction for Meals), Which

question 74

Multiple Choice

Allowing for the overall limitation (50% reduction for meals) , which of the following trips, if any, will qualify for the travel expense deduction?

• A) Dr. Jones, a self-employed general dentist, attends a two-day seminar on developing a dental practice.
• B) Dr. Brown, a self-employed surgeon, attends a two-day seminar on financial planning.
• C) Paul, a romance language high school teacher, spends summer break in France, Portugal, and Spain improving his language skills.
• D) Myrna went on a two-week vacation in Boston. While there, she visited her employer's home office to have lunch with former co-workers.
• E) All of these.

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Definitions:

Canadian Dollar

The official currency of Canada, represented by the symbol CAD or C$.

Euro

The official currency of the Eurozone, which is used by most European Union countries.

Percentage Terms

A way of expressing values or changes as a fraction of 100, used to describe proportions relative to a whole.

Larger Number

The value in a comparison of numbers that is greater than the other(s).