Answer Happy

Required information [The following information applies to the questions displayed below.] 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.) b. Clem and Wanda own a garage downtown that they rent to a local business for storage. This year they incurred expenses of $1,400 in utilities and $875 in depreciation. Deductible amount for AGI
c. Clem paid self-employment tax of $18,100 (the employer portion is $9,050), and Wanda had $3,550 of Social Security taxes withheld from her pay. Deductible amount for AGI
d. Clem paid $48 to rent a safety deposit box to store his coin collection. Clem has collected coins intermittently since he was a boy, and he expects to sell his collection when he retires. Deductible amount for AGI