Alex and Myra Burg, married and filling joint tax returns, derive their entire income from the operation of their retail candy shop. Their adjusted gross income was $50,000. The Burgs itemized their deductions on Sch. A. The following unreimbursed cash expenditures were among those made by the Burgs during the year:
State income tax 1,200
Four tickets to a theatre party sponsored by a qualified charitable organization, not considered a business expense, similar tickets would cost $25 each at the box office. $160
What amount should the burgs deduct for taxes in their itemized deductions on Sch A?
a. 1,200
b. 3,825
c. 7,650
d. 5,025
There were some other items on the list but they were easily eliminated. Can someone explain to me why the correct answer here is 1,200 and not 1,260. The very next question in becker said the $60 difference in the ticket price was a charitable contribution, yet here it wasn't included in the schedule?? I don't get it lol
AUD: 5/27 82!
FAR: 7/3 80!
REG: 7/21 76!
BEC: 8/8 78!
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