Question

Ron is a university professor who accepts a visiting position at another university for six months and obtains a leave of absence from his current employer. Ron rents an apartment near the university and purchases his food. These living expenses incurred by Ron while visiting the university will be

A) deductible from AGI, without application of a floor.
B) nondeductible.
C) deductible from AGI, subject to the 2% of AGI floor.
D) deductible for AGI.

Answer 1

The living expenses incurred by Ron while visiting the university will be nondeductible from AGI.

Step-by-step explanation:

The living expenses incurred by Ron while visiting the university will be nondeductible from AGI. This means that he cannot deduct these expenses from his taxable income. Only certain expenses, such as business-related expenses or certain education expenses, are deductible. However, in this case, Ron's expenses are personal in nature and not directly related to his work.