Question

During 2021, an historical fiction author traveled to Boston to take a summer course about Colonial history. She did so to research her next book. She spent $300 for airfare, $400 for lodging, $200 for restaurant meals, and $150 for tuition. What is her deduction for the trip?

Answer 1

The author's deduction for the trip would be $525.

Step-by-step explanation:

To calculate the deduction for the trip, we need to determine the total amount spent on qualifying expenses. Qualifying expenses include airfare, lodging, meals, and tuition. In this case, the total qualifying expenses amount to $300 + $400 + $200 + $150 = $1050.

To calculate the deduction, we multiply the total qualifying expenses by the applicable deduction rate. For 2021, the deduction rate for business-related travel expenses is 50%. Therefore, the deduction for the trip would be $1050 * 0.5 = $525.

So, the author's deduction for the trip would be $525.