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Classify expenditures as deductible for AGI, from AGI or ND

Classify deductions for AGI or a deduction from AGI or non deductible.

a. Amos contributes $500 to his H.R. 10 plan (i.e., a retirement plan for a self-employed individual).
b. Keith pays $500 of child support to his former wife, Renee, for the support of their son, Chris.
c. Judy pays $500 for professional dues that are reimbursed by her employer.
d. Ted pays $500 as the monthly mortgage payment on his personal residence. Of this amount, $100 represents a payment on principal, and $400 represents an interest payment.
e. Lynn pays $500 to a moving company for moving her house hold goods to Detroit where she is starting a new job. She is not reimbursed by her employer.
f. Ralph pays property taxes of $1,500 on his personal residence.

Solution Preview

Deductions for AGI are listed on page 1 of Form 1040.

Deductions from AGI are listed on page 2 of Form 1040 and normally are included in itemized deductions on Schedule ...

Solution Summary

In a sentence of two, each question is answered with understandable explanations.