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eBook Calculator Problem 11-30 (LO. 3, 4) Christine is a full-time teacher of the fourth grade at Vireo Academy. During the current year, she spends

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eBook Calculator Problem 11-30 (LO. 3, 4) Christine is a full-time teacher of the fourth grade at Vireo Academy. During the current year, she spends $1,400 for classroom supplies. On the submission of adequate substantiation, Vireo reimburses her for $500 of these expenses-the maximum reimbursement allowed for supplies under school policy. [The reimbursement is not shown as Income (Box 1) of Form W-2 given to Christine by Vireo.] a. What are the income tax consequence of the $1,400, of Christine chooses to itemize her deductions from AGI? She can claim the educator's deduction in the amount of AGI and is an employee business expense which is b. What are the income tax consequences of the $1,400, if Christine claims the standard deduction? She can claim the educator's deduction in the amount of AGI. Previous Next

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