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 _____ _____ AGI and is an employee business expense which is nondeductible/deductible. . 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 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 _____ _____
AGI and
is an employee business expense which is nondeductible/deductible.
.
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.
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