Problem 9-29 (LO. 4) Elijah, who is single, is employed as a full-time high school teacher. The school district where he works recently instituted a policy requiring all of its teachers to start working on a master's degree. Pursuant to this new rule, Elijah spent most of the summer of 2020 taking graduate courses at an out-of-town university. His MAGI is $64,000 and expenses are as follows: Tuition $6,600 Books and course materials 1,500 Lodging 1,700 Meals 2,200 Laundry and dry cleaning 200 Campus parking 300 In addition, Elijah drove his personal automobile 2,200 miles in connection with the education. He uses the automatic mileage method. Click here to access Exhibit 9.1 Limitations for Qualified Tuition Deduction. If an amount is zero, enter "0". a. Which of these expenses, if any, might qualify as deductions for AGI? Select "Yes" or "No" whichever is applicable. Tuition (subject to limitation) Lodging Auto mileage Campus parking Books and course materials Laundry and dry cleaning Meals (subject to 50% limit) How much, if any, of these expenses might qualify as deductions for AGI? $fill in the blank 54155302706f03c_8 b. How much of these expenses qualify as deductions from AGI? (Assume the amount from Part a is claimed.) $fill in the blank 8f9574f5802a05a_1
Problem 9-29 (LO. 4)
Elijah, who is single, is employed as a full-time high school teacher. The school district where he works recently instituted a policy requiring all of its teachers to start working on a master's degree. Pursuant to this new rule, Elijah spent most of the summer of 2020 taking graduate courses at an out-of-town university. His MAGI is $64,000 and expenses are as follows:
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In addition, Elijah drove his personal automobile 2,200 miles in connection with the education. He uses the automatic mileage method.
Click here to access Exhibit 9.1 Limitations for Qualified Tuition Deduction.
If an amount is zero, enter "0".
a. Which of these expenses, if any, might qualify as deductions for AGI? Select "Yes" or "No" whichever is applicable.
|
How much, if any, of these expenses might qualify as deductions for AGI?
$fill in the blank 54155302706f03c_8
b. How much of these expenses qualify as deductions from AGI? (Assume the amount from Part a is claimed.)
$fill in the blank 8f9574f5802a05a_1
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