Rachel, an employee of the BBB CPA firm, spent $3,000 for business expenses (none of...

90.2K

Verified Solution

Question

Accounting

Rachel, an employee of the BBB CPA firm, spent $3,000 for business expenses (none of which are subject to the 50 percent limitation). She was reimbursed $4,000 for these expenses. An adequate accounting of these expenses was not made to her employer. If Rachel's AGI was $50,000 for the year and her employer included $4,000 on her W-2, what amount of the employee business expenses may she deduct as an itemized deduction?

A: $4,000 B: 0 C: $2,000 D: $3,000

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students