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TAX4001 Cn 6 HW Saved 1 Required information (The following information applies to the questions displayed below.) Part 1 of 3 20 points Clem is
TAX4001 Cn 6 HW Saved 1 Required information (The following information applies to the questions displayed below.) Part 1 of 3 20 points Clem is married and is a skilled carpenter. Clem's wife, Wanda, works part time as a substitute grade school teacher. Determine the amount of Clem's expenses that are deductible for AGI this year (if any) under the following independent circumstances: (Leave no answer blank. Enter zero if applicable.) Skipped a. Clem is self-employed, and this year he incurred $725 in expenses for tools and supplies related to his job. Because neither was covered by a qualified health plan, Wanda paid health insurance premiums of $6,150 to provide coverage for herself and Clem (not through an exchange). eBook Hint Deductible amount for AGI Print References C 2 O Required information [The following information applies to the questions displayed below.] Part 2 of 3 Clem is married and is a skilled carpenter. Clem's wife, Wanda, works part time as a substitute grade school teacher. Determine the amount of Clem's expenses that are deductible for AGI this year (if any) under the following independent circumstances: (Leave no answer blank. Enter zero if applicable.) 20 points Skipped b. Clem and Wanda own a garage downtown that they rent to a local business for storage. This year they incurred expenses of $1,490 in utilities and $1,140 in depreciation. eBook Hint Deductible amount for AGI Print References TAX4001 Ch 6 HW Saved Help Save & Exit Check my 3 Required information (The following information applies to the questions displayed below.) Part 3 of 3 Clem is married and is a skilled carpenter. Clem's wife, Wanda, works part time as a substitute grade school teacher. Determine the amount of Clem's expenses that are deductible for AGI this year (if any) under the following independent circumstances: (Leave no answer blank. Enter zero if applicable.) 20 points Skipped c. Clem paid self-employment tax of $16,600 (the employer portion is $8,300), and Wanda had $7,950 of Social Security taxes withheld from her pay. eBook Hint Deductible amount for AGI Print References
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