Rhonda, who is married filing a joint return, is employed as a full-time high school teacher....
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Rhonda, who is married filing a joint return, is employed as a full-time high school teacher. The school district where she works recently instituted a policy requiring all of its teachers to start working on a master's degree. Pursuant to this new rule, Rhonda spent most of the summer of 2019 taking graduate courses at a local university. Her MAGI is $125,000 and her expenses are as follows: Tultion $4,800 Books 850 Course materials 250 Campus parking 300 Click here to access Exhibit 9.1 If an amount is zero, enter "0". a. How much, if any, of these expenses might qualify as deductions for AGI? 4,000 Feedback b. How much of these expenses might qualify as deductions from AGI? Rhonda, who is married filing a joint return, is employed as a full-time high school teacher. The school district where she works recently instituted a policy requiring all of its teachers to start working on a master's degree. Pursuant to this new rule, Rhonda spent most of the summer of 2019 taking graduate courses at a local university. Her MAGI is $125,000 and her expenses are as follows: Tultion $4,800 Books 850 Course materials 250 Campus parking 300 Click here to access Exhibit 9.1 If an amount is zero, enter "0". a. How much, if any, of these expenses might qualify as deductions for AGI? 4,000 Feedback b. How much of these expenses might qualify as deductions from AGI?
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Answer rating: 100% (QA)
a At most 4000 of the tuition could be a deduction for AGI This assumes that the AGI limit... View the full answer
Related Book For
Taxation for Decision Makers 2014
ISBN: 9781118654545
6th edition
Authors: Shirley Dennis Escoffier, Karen Fortin
Posted Date:
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