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Barry is a self-employed attorney who travels to New York on a business trip during the year. Barry's expenses were as follows: Airfare $560 Taxis 40 Meals 100 Lodging 350 How much may Barry deduct as travel expenses for the trip? a. None of these b. $1,000 c. $950 d. $0 e. $1,050

Respuesta :

Answer:

$1,050

Explanation:

Given that,

Airfare = $560

Taxis = $40

Meals = $100

Lodging = $350

All the expenses incurred during a business trip to New York are deductible.

Therefore, the amount of expenses deducted is calculated as follows:

= Airfare + Taxis + Meals + Lodging

= $560 + $40 + $100 + $350

= $1,050

Hence, Barry may deduct $1,050 as travel expenses for the trip.