During the current year, Paul, the vice president of a bank, made gifts in the following amounts:


Question Description:

20

During the current year, Paul, the vice president of a bank, made gifts in the following amounts: 1 answer below » LO.6 During the current year, Paul, the vice president of a bank, made gifts in the following amounts: To Sarah (Paul’s personal assistant) at Christmas $36 To Darryl (a key client)—$3 was for gift wrapping 53 To Darryl’s wife (a homemaker) on her birthday 20 To Veronica (Paul’s boss) at Christmas 30 In addition, on professional assistants’ day, Paul takes Sarah to lunch at a cost of $82. Presuming that Paul has adequate substantiation and is not reimbursed, how much can he deduct? Dec 10 2013 05:48 PM

Answer

20