Question
In each of the following independent cases, indicate the amount (1) deductible for AGI, (2) deductible from AGI, and (3) deductible neither for nor from
In each of the following independent cases, indicate the amount (1) deductible for AGI, (2) deductible from AGI, and (3) deductible neither for nor from AGI before considering income limitations or the standard deduction. (Leave no answer blank. Enter zero if applicable.)
a. Ted paid $94 rent on a safety deposit box at the bank. In this box he kept the few shares of stock that he owned.
Deductible for AGI-----------------?
Deductible from AGI----------------------?
Not deductible----------------------?
b. Tyler paid $152 for minor repairs to the fence at a rental house he owned. Deductible for AGI-----------------?
Deductible from AGI----------------------?
Not deductible----------------------?
c. Timmy paid $895 for health insurance premiums this year (not through an exchange and not with pre-tax dollars). Timmy is employed full-time and his employer paid the remaining premiums as a qualified fringe benefit.
Deductible for AGI-----------------?
Deductible from AGI----------------------?
Not deductible----------------------?
d. Tess paid $1,260 of state income taxes on her consulting income.
Deductible for AGI-----------------?
Deductible from AGI----------------------?
Not deductible----------------------?
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