Bha JoAnne Johnson is a second grade teacher and has taught full-time at Central middle school in aclassroom for over 1700 and 2022 she paid $945 in expenses for teaching supplies use in theclassroom central middle school reimbursed her for $750 of the expenses Joanne claim a qualifiededucator expense of how much on her 2022 tax return

Educator expense deductions are the expense which is incurred by the teachers for class kindergarten…

Answered: JoAnne Johnson is a second grade…

Individual Income Taxes

43rd Edition

ISBN:9780357109731

Author:Hoffman

Publisher:Hoffman

Chapter9: Deductions: Employee And Self- Employed-related Expenses

Section: Chapter Questions

Problem 40P

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Similar questions

Darrell is an employee of Whitneys. During the current year, Darrells salary is 136,000. Whitneys net self-employment income is also 136,000. Calculate the Social Security and self-employment taxes paid by Darrell and Whitney. Write a letter to Whitney in which you state how much she will have to pay in Social Security and self-employment taxes and why she owes those amounts.
Linda and Richard are married and file a joint return for 2019. During the year, Linda who works as an accountant for a national airline, used $2,100 worth of free passes for travel on the airline; Richard used the same amount. Linda and Richard also used $850 worth of employee discount coupons for hotel rooms at the hotel chain that is also owned by the airline. Richard is employed at State University as an accounting clerk. Under a tuition reduction plan, Richard saved $4,000 in tuition fees during 2019. He is studying for a master's degree in business at night while still working full-time. Richard also had $30 worth of personal typing done by his administrative assistant at the University. What is the amount of fringe benefits that should be included in Linda and Richard's gross income on their 2019 tax return? $__________
Linda is an employee of JRH Corporation. Which of the following would be included in Lindas gross income? a. Premiums paid by JRH Corporation for a group term life insurance policy for 50,000 of coverage for Linda. b. 1,000 of tuition paid by JRH Corporation to State University for Lindas masters degree program. c. A 2,000 trip given to Linda by JRH Corporation for meeting sales goals. d. 1,200 paid by JRH Corporation for an annual parking pass for Linda.
Amanda, who works 1,500 hours annually as a second grade teacher purchased $300 worth of supplies for her classroom. What amount of this is she allowed to take as deduction on her tax return? A.$300 B.$150 C.$0 D.$250
Makayla Jennings 34 is filing as a single tax payer during the year she earned 53000 in wages from her job as a high school english teacher makayla has always been a avid reader and in addition to her teaching job she had an opportunity in early 2020 to lead a book club at a nearby community center makayla led the book for early January until March 19 2020 when the center closed due to covid restrictions the community center pay het and in early 2021 she recieve form 1099 nec reporting 510 for nonemployee compensation in box 1 the community center is within walking distance of makayla home so she did not have any vehicle or travel expenses he only businesd related expenses was 50 in supplies makayla has no other income What is the amount of makayla self employment tax?
All of the following income or services were received by Beatrice in 2023. Beatrice is a cash-basis taxpayer and self-employed piano teacher. What is Beatrice's 2023 gross income? $9,150 for 183 piano lessons given in 2023 250 payment for five piano lessons that will take place in 2024 but were paid for in December 2023. $720 received for sheet music that Beatrice bought from a distributor and put in inventory until sold at cost. Beatrice paid the distributor $720 during 2023. A $325 makeover from a spa owner in exchange for five piano lessons. ( No cash changed hands.) 1) $9,725 2) $10,120 3) $10195 4) $10,445
Use the following information Molly has collect to help her determine her taxable income for the year: Salary from her job 115,100 Interest earn from 1,280 savings Interest paid on student loans Your Answer: Answer 905 Standard deduction 12,950 Itemized deductions 842 Child tax credit 2000
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.
For tax year 2023Cindy has work-related dependent care expenses of $3,200 for the care of one qualifying person, and work-related dependent care expenses of $3,800 for another qualifying person. What amount of these work-related expenses may Cindy use when figuring the Child and Dependent Care Credit? A) $2,800 B) $3.000 C) $7,000 D) $6,000
For the year 2023, Carolyn earned $80,000 and incurred the following expenses Moving expenses Credit card interest Mortgage interest (qualified residence interest) Tax return preparation fees Unreimbursed employee business expenses State sales tax paid Assuming she had no other expenses and files as a single taxpayer, what are her total allowable itemized deductions for 2023? O A. $15,300 OB. $14.800 $ 500 250 12,400 1,100 1,750 2,400 O C. $15,050 O D. $17,650
Other for AGI Deductions, Other Itemized Deductions (LO 5.5, 5.10) Eliza is a kindergarten teacher for Alexander Hamilton Elementary School. Eliza decorates her classroom with new artwork, posters, bulletin boards, etc. In 2020, she spends $470 on materials and supplies for her classroom. The school reimburses her $100 (the annual reimbursement limit). Eliza can deduct _________ for AGI and _________ from AGI.
Barbara purchased a new Honda Clarity electric vehicle in 2019 for $36,000. Her federal tax credit will be:a. $0b. $2,500c. $5,000d. $7,500e. $10,000

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