- 10 -
5,200 miles7 driven by Mrs. Whalley during 1991 and 1992,
respectively, from home to professional meetings and conferences.
Taxpayers may deduct expenses incurred while traveling away
from home if the trip is primarily to obtain education that has
the requisite relation to the taxpayer's business. Sec. 1.162-
5(e)(1), Income Tax Regs. Thus, travel expenses incurred to
attend a seminar or continuing education course may be
deductible. Sec. 1.162-5(e)(2), Income Tax Regs. To deduct
expenses incurred for travel, meals, and lodging while away from
home on job-related education, a taxpayer must satisfy the
stringent substantiation requirements of section 274(d) and the
regulations thereunder. A taxpayer must substantiate each
element of an expenditure incurred for travel, meals, and lodging
while away from home either by adequate records or by sufficient
evidence corroborating his or her own statement. Sec. 1.274-
5T(c), Temporary Income Tax Regs., 50 Fed. Reg. 46017 (Nov. 6,
1985).
For travel expenses, including meals and lodging, a taxpayer
must substantiate: (1) The amount of such expense, (2) the time
and place such expense was incurred, and (3) the business purpose
for which such expense was incurred. Sec. 1.274-5T(b)(2),
Temporary Income Tax Regs., 50 Fed. Reg. 46014 (Nov. 6, 1985).
Section 274(d) specifically bars a taxpayer from claiming a
7 As we previously indicated, the standard mileage allowances
for 1991 and 1992 were 27.5 and 28 cents per mile, respectively.
Rev. Proc. 90-59, 1990-2 C.B. 644; Rev. Proc. 91-67, 1991-2 C.B.
887.
Page: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Next
Last modified: May 25, 2011