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Required information [The following information applies to the questions displayed below.] In each of the following inde

Posted: Sun Jul 03, 2022 1:13 pm
by answerhappygod
Required Information The Following Information Applies To The Questions Displayed Below In Each Of The Following Inde 1
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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) deductible neither for nor from AGI before considering income limitations or the standard deduction. (Leave no answer blank. Enter zero if applicable.)
a. Fran spent $182 for uniforms for use on her job. Her employer reimbursed her for $116 of this amount under an accountable plan (and did not report the reimbursement as wages). Answer is complete but not entirely correct. Deductible for AGI 0 Deductible from AGI 66 X Not deductible 0 X $ $ $
b. Timothy, a plumber employed by ACE Plumbing, spent $127 for small tools to be used on his job, but he was not reimbursed by ACE. Deductible for AGI Deductible from AGI Not deductible
c. Jake is a perfume salesperson. Because of his high pay, he receives no allowance or reimbursement from his employer for advertising expenses even though his position requires him to advertise frequently. During the year, he spent $4,250 on legitimate business advertisements. Deductible for AGI Deductible from AGI Not deductible
d. Trey is a self-employed, special-duty nurse. He spent $235 for uniforms. Deductible for AGI Deductible from AGI Not deductible
e. Mary, a professor at a community college, spent $545 for magazine subscriptions. The magazines were helpful for her research activities, but she was not reimbursed for the expenditures. Deductible for AGI Deductible from AGI Not deductible
f. Wayne lost $680 on the bets he made at the race track, but he won $157 playing slot machines. Deductible for AGI Deductible from AGI Not deductible