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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

Respuesta :

sanelidlam

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.