Individual Income Taxes
43rd Edition
ISBN: 9780357109731
Author: Hoffman
Publisher: CENGAGE LEARNING - CONSIGNMENT
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Question
Chapter 9, Problem 40P
a.
To determine
Explain the income tax consequences of Ms. C’s that itemizes the deduction from AGI.
b.
To determine
Explain the income tax consequences of Ms. C’s standard deduction choice.
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Christine is a full-time fourth-grade teacher at Vireo Academy. During the current year, she spends $1,400 for classroom supplies. On the submission of adequate substantiation, Vireo reimburses her for $500 of these expenses—the maximum reimbursement allowed for supplies under school policy. [The reimbursement is not shown as income (Box 1) of Form W–2 given to Christine by Vireo.]
a. What are the income tax consequence of the $1,400, if Christine chooses to itemize her deductions from AGI?She can claim the educator's deduction in the amount of _____ _____
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b. What are the income tax consequences of the $1,400, if Christine claims the standard deduction?She can claim the educator's deduction in the amount of _____ _____AGI.
Christine is a full-time fourth-grade teacher at Vireo Academy. During the current year, she spends $1,400 for classroom supplies. On the
submission of adequate substantiation, Vireo reimburses her for $500 of these expenses-the maximum reimbursement allowed for
supplies under school policy. [The reimbursement is not shown as income (Box 1) of Form W-2 given to Christine by Vireo.]
a. What are the income tax consequences of the $1,400, if Christine chooses to itemize her deductions from AGI?
She can claim the educator's deduction in the amount of
an employee business expense which is
AGI and
IS
b. What are the income tax consequences of the $1,400, if Christine claims the standard deduction?
She can claim the educator's deduction in the amount of
AGI.
Tammy teaches elementary school history for the Metro School District. In 2020 she has incurred the following expenses associated with her job:
Noncredit correspondence course on history $900
Teaching cases for classroom use $1,800
Tammy’s employer does not provide any funding for the correspondence course or teaching cases. Identify the amount and type (for AGI or from AGI) of deductible expenses.
Chapter 9 Solutions
Individual Income Taxes
Ch. 9 - Prob. 1DQCh. 9 - Mason performs services for Isabella. In...Ch. 9 - Milton is a resident of Mobile (Alabama) and is...Ch. 9 - In 2017, Emma purchased an automobile, which she...Ch. 9 - Prob. 5DQCh. 9 - Prob. 6DQCh. 9 - Prob. 7DQCh. 9 - Prob. 8DQCh. 9 - Prob. 9DQCh. 9 - Prob. 10DQ
Ch. 9 - Prob. 11DQCh. 9 - Prob. 12DQCh. 9 - Prob. 13DQCh. 9 - Prob. 14DQCh. 9 - Paul wholly owns and operates an office supplies...Ch. 9 - Prob. 16DQCh. 9 - Prob. 17DQCh. 9 - Lara uses the standard mileage method for...Ch. 9 - Fred, a self-employed taxpayer, travels from...Ch. 9 - Prob. 20CECh. 9 - Prob. 21CECh. 9 - In 2019, Robert entertains four key clients and...Ch. 9 - In 2019, the CEO of Crimson, Inc., entertains...Ch. 9 - Prob. 24CECh. 9 - Cindy maintains an office in her home that...Ch. 9 - Prob. 26CECh. 9 - Prob. 27CECh. 9 - Prob. 28PCh. 9 - Prob. 29PCh. 9 - Prob. 30PCh. 9 - In June of this year, Dr. and Mrs. Bret Spencer...Ch. 9 - Prob. 32PCh. 9 - On Thursday, Justin flies from Baltimore (where...Ch. 9 - Monica, a self-employed taxpayer, travels from her...Ch. 9 - Prob. 35PCh. 9 - Prob. 36PCh. 9 - Prob. 37PCh. 9 - Prob. 38PCh. 9 - Prob. 39PCh. 9 - Prob. 40PCh. 9 - Shelly has 200,000 of QBI from her local jewelry...Ch. 9 - Prob. 42PCh. 9 - Prob. 43PCh. 9 - Prob. 44PCh. 9 - Prob. 45PCh. 9 - Prob. 46PCh. 9 - Ben and Molly are married and will file jointly....Ch. 9 - Prob. 48PCh. 9 - Prob. 49PCh. 9 - Prob. 50PCh. 9 - David R. and Ella M. Cole (ages 39 and 38,...Ch. 9 - Addison Parker (Social Security number...Ch. 9 - In the current year, Barlow moved from Chicago to...Ch. 9 - Prob. 2CPACh. 9 - Prob. 3CPACh. 9 - Prob. 4CPACh. 9 - Prob. 5CPACh. 9 - Prob. 6CPACh. 9 - Calculate the taxpayers 2019 qualifying business...Ch. 9 - Prob. 8CPA
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