Question

In November 2021, Kortney (who is a self-employed management consultant) travels from Chicago to Barcelona (Spain) on business. She is gone 10 days (including 2 days of travel) during which time she spends 5 days conducting business and 3 days sightseeing. Her expenses are $1,500 (airfare), $200 per day (meals at local restaurants), and $400 per night (lodging). Because Kortney stayed with relatives while sightseeing, she only paid for 5 nights of lodging. Compute Kortney's deductions for the following expenses.

Answer 1

Based on the information given Kortney's deductions are:

a. Airfare $1,050

b. Meals $700  

c. Lodging $2,000

Kortney's deductions

a. Airfare deduction

Total number of Business day=5days+2days

Total number of Business day=7 days

Airflare= $1,500×7days/10days

Airfare=$1,050

b. Meals deduction

Meals=($200×7 days)×50%

Meals=$700

 

c. Lodging deduction

Lodging=$400×5 days

Lodging=$2,000

Inconclusion Kortney's deductions are:  Airfare $1,050 ; Meals $700 ; Lodging $2,000.

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