Business, 01.04.2020 05:00 tireekkimble5

In each of the following independent cases, indicate the amount (1) deductible for AGI, (2) deductible from AGI, and (3) deductible neither for nor from AGI before considering income limitations or the standard deduction. (Leave no answer blank. Enter zero if applicable.) Ted paid $90 rent on a safety deposit box at the bank. In this box he kept the few shares of stock that he owned.

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Answer from: 19colemankl

kindly check your questions, I don't think it's complete.

For the first independent case as you have given in the question. Here is the answer below:

1) Ted paid $90 rent on a safety deposit box at the bank. In this box he kept the few shares of stock that he owned

Answer

Deductible for AGI $0

Deductible from AGI $90

Not deductible $0

Deduction from AGI (investment expense )

For the remaining independent cases as you omitted in the question will be seen below with answers

2.Tyler paid $177 for minor repairs to the fence at a rental house he owned

Deductible for AGI $177

Deductible from AGI $0

Not deductible $0

-Deduction for AGI

And Rental expense.

3)Timmy paid $585 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.

. Answer---

Deductible for AGI $0

Deductible from AGI $585

Not deductible $0

The health insurance premium is from AGI,

Health itemized deduction which is also subjected to an AGI floor limitation.

4)Tess paid $2,090 of state income taxes on her consulting income. (W-2)

Answer---Deductible for AGI $0

Deductible from AGI $2,090

Not deductible $0

--The state income taxes are deductible from AGI which is an itemized deduction.

Answer from: Quest

borrow money from the government then pay the government back 5k

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match the scenarios with terms related to financial aid.

pell grant

student loan

merit-based scholarship

richard is one of the leading college basketball players in the state of florida. he also maintains a good academic record. looking at his talent and potential, furman university offers to bear the expenses for his college education.

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anita wants to pursue a certificate program in sports nutrition. to pay for the course, she borrows money by filing the fafsa.

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nathan comes from a low-income household. he wants to pursue an undergraduate degree in marketing. he receives financial aid covering 50 percent of his college expenses. nathan does not have to pay back this amount.

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In each of the following independent cases, indicate the amount (1) deductible for AGI, (2) deductib...