Question
Required information [The following information applies to the questions displayed below.] In each of the following independent cases, indicate the amount (1) deductible for AGI,
Required information
[The following information applies to the questions displayed below.]
In each of the following independent cases, indicate the amount (1) deductible for AGI, (2) deductible from AGI, and (3) neither deductible for nor deductible from AGI before considering income limitations or the standard deduction. (Leave no answer blank. Enter zero if applicable.)
a. Ted paid $16 rent on a safety deposit box at the bank. In this box he kept the few shares of stock that he owned.
Deductible for AGI:__$_____________
Deductible from AGI:_$_____________
Not deductible:_$__________________
b. Timothy, a plumber employed by ACE Plumbing, spent $81 for small tools to be used on his job, but he was not reimbursed by ACE.
Deductible for AGI: $_______________
Deductible from AGI: $______________
Not deductible: $___________________
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d. Trey is a self-employed special-duty nurse. He spent $510 for uniforms.
Deductible for AGI: $_________
Deductible from AGI: $_________
e. Wayne lost $510 on the bets he made at the race track, but he won $146 playing slot machines.
Deductible for AGI: $_________
Deductible from AGI: $_________
f. Ted paid $16 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: $___________________
g. Tyler paid $126 for minor repairs to the fence at a rental house he owned.
Deductible for AGI: $_______________
Deductible from AGI:_$_____________
Not deductible:_$__________________
h. Tess paid $1,300 of state income taxes on her consulting income.
Deductible for AGI: $_______________
Deductible from AGI: $______________
Not deductible: $___________________
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