Question
Taxpayer is a self-employed certified public accountant. Please match the proper tax treatment below with each of the following deductions. A. Deductible for AGI B.
Taxpayer is a self-employed certified public accountant. Please match the proper tax treatment below with each of the following deductions. A. Deductible for AGI B. Deductible from AGI C. Not deductible 1. Taxpayer paid $1,040 of interest on the mortgage on her personal residence. 2. During July of this year, taxpayer decided that she should secure a law degree so she began taking courses at night. Her expenses relating to law school this year were $950. 3. Taxpayer paid $500 of investment advisory fees to her broker to advise her on her stock portfolio. 4. Taxpayer paid expenses of $1,200 applicable to a rental property that she owned and leased. 5. Taxpayer paid real estate taxes of $1,300 on her mothers personal residence. 6. Taxpayer paid $200 to take a client to an Orioles game during which they discussed business. 7. Taxpayer made a deductible contribution to her individual retirement account. 8. Taxpayer paid $300 to attend a continuing professional education seminar. 9. Taxpayer inherited property from her deceased aunt and paid a state inheritance tax of $1,300
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