State income taxes on her consulting income

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Reference no: EM131262463

In each of the following independent cases, indicate the amount (1) deductible for AGI, (2) deductible from AGI, and (3) neither deductible for nor deductible from AGI before considering income limitations or the standard deduction. (Leave no answer blank. Enter zero if applicable.)

a. Ted paid $28 rent on a safety deposit box at the bank. In this box he kept the few shares of stock that he owned.

Deductible for AGI _____,   Deductible from AGI______, Not Deductible _______

b. Tyler paid $116 for minor repairs to the fence at a rental house he owned.

Deductible for AGI _____,   Deductible from AGI______, Not Deductible _______

c. Timmy paid $645 for health insurance premiums this year (not through an exchange). Timmy is employed full-time and his employer paid the remaining premiums as a qualified fringe benefit.

Deductible for AGI _____,   Deductible from AGI______, Not Deductible _______

d. Tess paid $1,500 of state income taxes on her consulting income.

Deductible for AGI _____,   Deductible from AGI______, Not Deductible _______

Reference no: EM131262463

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