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Latrell's employer paid for his business trips and he was not taxed on the travcel reimbursement. How much income does Latrell have to recognize as a result of purchasing with points?
Wiki User
∙ 13y ago
Latrell recently used his Delta Skymiles to purchase a free roundtrip ticket to Milan, Italy (value $1,200). The frequent flyer miles used to purchase the ticket were generated from Latrell's business travel as a CPA. Latrell's employer paid for his business trips, and he was not taxed on the travel reimbursement.Use an available tax research service to determine how much income, if any, does Latrell have to recognize as a result of purchasing an airline ticket with Skymiles earned from business travel.
Wiki User
∙ 13y ago
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