Steven Is a Representative for a Textbook Publishing Company

question 135

Multiple Choice

Steven is a representative for a textbook publishing company.Steven attends a convention which will also be attended by many potential customers.During the week of the convention,Steven incurs the following costs in entertaining potential customers. Having recently been to a company seminar on the new tax laws,Steven makes sure that business is discussed at the various dinners,and that the entertainment is on the same day as the meetings with customers.Steven is reimbursed $2,000 by his employer under an accountable plan.Steven's AGI for the year is $50,000,and while he itemizes deductions,he has no other miscellaneous itemized deductions.What is the amount and character of Steven's deduction after any limitations?

• A)$500 from AGI
• B)$500 for AGI
• C)$2,000 from AGI
• D)$2,000 for AGI

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Definitions:

Unions

Organizations formed by workers to protect their rights and interests, often engaging in collective bargaining with employers.

International Trade Union Confederation

A global organization that brings together national trade unions from various countries to promote workers' rights and interests internationally.

Main Objectives

The primary goals or aims that an individual, organization, or project seeks to achieve.

European Union

A political and economic union of 27 European countries that are located primarily in Europe, aiming to promote peace, establish a unified market, ensure the free movement of people, goods, services, and capital, enact legislation in justice and home affairs, and maintain common policies on trade, agriculture, fisheries, and regional development.