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Rhonda, who is married filing a joint return, is employed as a full-time high school teacher. The school district where she works recently instituted a
Rhonda, who is married filing a joint return, is employed as a full-time high school teacher. The school district where she works recently instituted a policy requiring all of its teachers to start working on a master's degree. Pursuant to this new rule, Rhonda spent most of the summer of 2016 taking graduate courses at a local university. Her MAGI is $125,000 and her expenses are as follows: a. How much, if any, of these expenses might qualify as deductions for AGI? $ b. How much of these expenses might qualify as deductions from AGI? Eric is a licensed commercial pilot who works for snipe Charter Jet Service. Typically, Eric, who lives near the airport, flies a charter out of Tupelo (MS) to either Las Vegas or Reno, spends several nights there, and then returns home with the same group. Snipe provides Eric with a travel allowance of $2, 600 per month but requires no accountability. For the current calendar year, Eric had the following job-related expenses: The uniforms are required to be worn on the job. The Federal Aviation Administration requires the annual physical exam for the maintenance of a commercial pilots license. How may Eric treat these expenses for Federal income tax purposes? Eric must include the travel allowance of $ in his gross income for the year. His allowable expenses of $ are deductible from AGI.Shelia, who is single, is employed as a full-time middle school teacher. The school district where she works recently instituted a policy requiring all of its teachers to start working on a masters degree. Pursuant to this new rule, Shelia spent most of the summer of 2016 taking graduate courses at an out-of-town university. Her MAGI is $70,000 and her expenses are as follows: In addition, Shelia drove her personal automobile 4, 800 miles in connection with the education. She uses the automatic mileage method. a. How much, if any, of these expenses might qualify as deductions for AGI? $ b. How much of these expenses might qualify as deductions from AGI? If required, round your answer to the nearest dollar
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