(LO.3 Federal Taxation) Monica, a self-employed taxpayer, travels from her office in Boston to Lisbon, Portugal, on business. Her absence of 13 days was spent as follows: Thursday                                             Depart for and arrive at Lisbon Friday                                                    Business transacted Saturday and Sunday                     Vacationing Monday through Friday                Business transacted Saturday and Sunday                     Vacationing Monday                                               Business transacted Tuesday                                               Depart Lisbon and return to office in Boston For tax purposes, how many days has Monica spent on business? What difference does it make? Could Monica have spent more time than she did vacationing on the trip without loss of existing tax benefits?

SWFT Comprehensive Vol 2020
43rd Edition
ISBN:9780357391723
Author:Maloney
Publisher:Maloney
Chapter9: Deduct Ions: Employee And Self-employed - Related Expenses
Section: Chapter Questions
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  1. (LO.3 Federal Taxation) Monica, a self-employed taxpayer, travels from her office in Boston to Lisbon, Portugal, on business. Her absence of 13 days was spent as follows:

Thursday                                             Depart for and arrive at Lisbon

Friday                                                    Business transacted

Saturday and Sunday                     Vacationing

Monday through Friday                Business transacted

Saturday and Sunday                     Vacationing

Monday                                               Business transacted

Tuesday                                               Depart Lisbon and return to office in Boston

  1. For tax purposes, how many days has Monica spent on business?
  2. What difference does it make?
  3. Could Monica have spent more time than she did vacationing on the trip without loss of existing tax benefits?
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