Tyler, a self-employed taxpayer, travels from Denver to Miami primarily on business. He spends five days conducting business and two days sightseeing. His expenses are $400 (airfare), $150 per day (meals at local restaurants), and $300 per night (lodging). If required, round your answers to the nearest dollar. What are Tyler's deductible expenses in the below year: 2023 $fill in the blank 1 2022 $fill in the blank 2

Answer :

The deductible expenses for Tyler in these years are:

  • 2023 = $2275
  • 2022 = $2650

How to solve for the deductible expenses

Air fare = 400 dollars

Lodging = 300 x 5

meals = 150 x 5 x 50%

Total in 2023 = 400 + 1500 + 375

= $2275

The deductible for 2022

400 + 5x150 + 5x300

= $2650

Hence the total deductible in 2023 =  $2275

and in 2022 = $2650

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