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Nancy owns a small dress store. During the year, Nancy gives business gifts having the indicated cost to the following individuals: Mrs. Johns (a customer) $37 plus $3 shipping Mr. Johns (nonclient husband of Mrs. Johns) $10 Ms. Brown (a customer) $22 What is the amount of Nancy's deduction for business gifts?

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Answer:

The answer is: $50

Explanation:

If you make a gift to a client, you can deduct a maximum of $25 per client. Shipping costs are not included in the $25. But additional gifts to nonclients are not deductible.

Nancy can deduct $25 for Mrs. Johns's gift + $22 for Ms. Brown's gift + $3 for shipping costs = $50

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