Toby,a Single Taxpayer with No Dependents,is an Employee of a Large

question 97

Multiple Choice

Toby,a single taxpayer with no dependents,is an employee of a large consulting firm.During the year he incurs the following business expenses that are not reimbursed by his employer:

$$\begin{array} { lr } \text { Business entertainment and other meals } &\$ 3,400 \\ \text { Transportation and lodging } &4,200\end{array}$$

Toby's AGI is $100,000 and is in the 28% marginal tax rate.In addition to the expenditures described above,his only other qualified itemized deductions are home mortgage interest of $6,000 and property taxes of $2,000.What is the after-tax cost to Toby of his unreimbursed employee business expenses?

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