Question
29. What is Austin's mileage expense deduction (at the standard mileage rate) for his business as a personal trainer? $1,485 $2,025 $2,133 $4,158 30. Which
29. What is Austin's mileage expense deduction (at the standard mileage rate) for his business as a personal trainer? $1,485 $2,025 $2,133 $4,158 30. Which item cannot be deducted by Austin as a business expense? Business license Business liability insurance Advertising Nutritional supplements 31. The full amount of the self-employment tax is deducted on Schedule A, in the Taxes You Paid section. True or False 32. How do you report qualified student loan interest paid? A. As an expense for an education credit B .As other income on Form 1040, line 21 C. As an itemized deduction on Schedule A D. As an adjustment to income on Form 1040, page 1 33. What are Austins total itemized deductions on Schedule A, line 29? A $6,952 B $7,086 C $7,906 D $8,286 34. The amount of Austin's retirement savings contributions credit in the Tax and Credits section of Form 1040 is $100 True or False 35. Austin is not able to pay the entire balance due. One way to reduce the amount of penalties and interest is to file his return and pay as much as he can by the due date of the return (without extensions). True or False
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