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AGI and Itemized Employee Expense Under Accountable Plan

Audry, age 38 and single, earned a salary of $59,000. She had interest income of $1,600 and had a $2,000 long-term capital loss from the sale of a stock investment.
Audry incurred the following employment-related expenses during the year:

Transportation $55,800
Meals $2,800
Lodging $4,200
Entertaining clients $2,200
Professional dues and subscriptions $300

Under and accountable plan, Audry receives reimbursements of $4,500 from her
employer. Calculate her AGI and itemized employee business expenses.

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Audry's calculation of adjusted gross income does not include any of the ...

Solution Summary

This solution shows the calculation of AGI considering employee business expenses under an accountable plan.