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Effectus [21]
3 years ago
12

Luis had self-employment income of $9,732 reported in box 7 of Form 1099-Misc and has receipts for tools and supplies of $2,603.

When entering the expenses into the tax return, Luis noticed that his refund went down. Luis asked the tax preparer to take the expenses off the return to help get the maximum refund. Is this allowable by the IRS
Business
1 answer:
elena-14-01-66 [18.8K]3 years ago
3 0

Answer:

No

Explanation:

Given the information from the question .We need to discuss if the Luis’s situation is allowable by the IRS. The IRS doesn’t permit to show fewer expenses or expenditures to acquire more reimbursement or refund. Therefore it is impossible for Luis to remove the expenses so that he can get maximum refund .The correct answer for this question is No.

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The answer to the question stated above is letter A.

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3 years ago
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mars1129 [50]
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5 0
1 year ago
Al invested $7,200 in an account that pays 4 percent simple interest. how much money will he have at the end of five years?
Gre4nikov [31]
Thank you for posting your question here at brainly. I hope the answer will help you. Feel free to ask more questions.
Below are the choices that can be found form other sources:

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