Gayle, a doctor with significant investments in the stock market, traveled on a cruise ship to Bermuda. Investment specialists provided daily seminars which Gayle attended. The cost of the cruise for four days is $2,500. Gayle can deduct (before application of any floors)
A) $0.
B) $1,250.
C) $2,000.
D) $2,500.
A) $0.
None of the travel expenses are deductible because the expenses are incurred for investment-related activities under Section 212 and are not related to Gayle's trade or business.
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