During the year, Mr. A incurred $526 to purchase airline tickets for travel to client sites on behalf of ABC co. He claimed this amount to abc by presenting his receipt and received a reimbusement for the full amount. Indicate the effect on Mr. A's net employment income. An inclusion in employment income should be entered in the box as a number (e.g., 100, do not use any other signs). A deduction from employment income should be entered in the box as a negative number (e.g, -100, do not use any other signs/brackets).
During the year, Mr. A incurred $526 to purchase airline tickets for travel to client sites on behalf of ABC co. He claimed this amount to abc by presenting his receipt and received a reimbusement for the full amount. Indicate the effect on Mr. A's net employment income. An inclusion in employment income should be entered in the box as a number (e.g., 100, do not use any other signs). A deduction from employment income should be entered in the box as a negative number (e.g, -100, do not use any other signs/brackets).
Chapter3: Computing The Tax
Section: Chapter Questions
Problem 27P
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During the year, Mr. A incurred $526 to purchase airline tickets for travel to client sites on behalf of ABC co. He claimed this amount to abc by presenting his receipt and received a reimbusement for the full amount.
Indicate the effect on Mr. A's net employment income.
An inclusion in employment income should be entered in the box as a number (e.g., 100, do not use any other signs).
A deduction from employment income should be entered in the box as a negative number (e.g, -100, do not use any other signs/brackets).
If the item would have no effect on the calculation of employment income, enter the number 0 in the box (e.g., do not use any other signs/words)
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