2. Albert Able, age 52, pays medical expenses during 2021 (all in excess of reimbursement) as set out below. Hospital and doctor bills (for self and spouse, age 50) Prescription medicine (for self and spouse) Hospitalization insurance premiums (for self and spouse) Prescription medicine (for dependent mother, age 71) Assuming the Ables' adjusted gross income is $50,000, how much medical expense will they deduct on their joint 2021 Form 1040 return? A. B. C. D. $4,020 5,080 3,830 8,830 E. None of the above 3. A self-employed taxpayer using the IRS vehicle standard mileage rate for trade or business use of an automobile is permitted to increase the computed mileage method deduction amount by which of the listed actual expenditure amounts? A Tolls B C D E Local property taxes Parking fees All of the listed costs may be deducted in addition to the computed amount None of the listed costs may be deducted in addition to the computed amount 4. Ben Baker spends considerable time each year pursuing his electric train hobby. occasionally attending train shows throughout the eastern half of the United States. At shows, Ben sometimes buys and sells train cars and accessories. During 2021, Ben recorded gross sales of $5,400 at these events and incurred ordinary and necessary expenses of $4,800. On his Form 2021 1040, Ben must report... Gross revenue of $5,400, but can deduct $4,800 "for AGI." Gross revenue of $5,400, but can deduct $4,800 "from AGI." Gross revenue of $5,400, but can deduct no expenditure amount A B C D Net revenue of $600 E None of the above 5. Carla Cox paid various amounts during 2021, as set out below. Social security tax (withheld from wages) Personal property taxes (ad valorem) State income tax State sales tax Real estate tax Cigarette tax Fine for speeding (while using her personal vehicle for business) What itemized deduction amount will Carla deduct for taxes on her 2021 return? $10,000 A. B. 21,420 14,800 D. 11,000 E. None of the above PLEASE ANSWER ALL QUESTIONS $ 840 730 6,200 1,060 $6,120 900 5,000 3,800 5,100 500 250