Under the Deemed Substantiation Method of Accounting for Expenses, What

question 32

Multiple Choice

Under the deemed substantiation method of accounting for expenses, what is the maximum amount taxpayers are allowed as a deduction without being required to substantiate the amount of the expenses?

• A) The appropriate Federal per diem amount.
• B) $75 per day.
• C) All expenses up to $25 per day.
• D) The per diem rate established by the state in which they live.
• E) None of the above.

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