Problem 3-15 Dues, Subscriptions, and Publications (LO 3.7) Carey opens a law office in Chicago on January 1, 2019. On January 1, 2019, Carey purchases an annual subscription to a law journal for $170 and a 1-year legal reference service for $1,500. Carey also subscribes to Chicago Magazine for $54 so she can find great places to take client's to dinner and review the Best 50 Lawyers in Chicago list published each year. Calculate Carey's deduction for the above items for the 2019 tax year.

Problem 3-15 Dues, Subscriptions, and Publications (LO 3.7) Carey opens a law office in Chicago on January 1, 2019. On January 1, 2019, Carey purchases an annual subscription to a law journal for $170 and a 1-year legal reference service for $1,500. Carey also subscribes to Chicago Magazine for $54 so she can find great places to take client's to dinner and review the Best 50 Lawyers in Chicago list published each year. Calculate Carey's deduction for the above items for the 2019 tax year.

Income Tax Fundamentals 2020

38th Edition

ISBN:9780357391129

Author:WHITTENBURG

Publisher:WHITTENBURG

Chapter3: Business Income And Expenses

Section: Chapter Questions

Problem 15P

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