Nadine is a self-employed attorney. Her expenses for continuing legal education are as follows: Lodging in Tempe, Arizona $1,200 Transportation 350 Meals 200 Books 175 Tuition 550 Weekend trip to the Grand Canyon 175    Total $2,650 Calculate Nadine's educational expense deduction for the current year. Assume Nadine's household income is too high for her to qualify for the lifetime learning credit.

Lionel is an unmarried law student at State University Law School, a qualified educational institution. This year Lionel borrowed $29,000 from County Bank and paid interest of $1,740. Lionel used the loan proceeds to pay his law school tuition. Calculate the amounts Lionel can deduct for interest on higher-education loans under the following circumstances: Note: Leave no answer blank. Enter zero if applicable. a. Lionel's AGI before deducting interest on higher-education loans is $50,000. b. Lionel's AGI before deducting interest on higher-education loans is $79,000. c. Lionel's AGI before deducting interest on higher-education loans is $90,000

Mario, who is single and elects to itemize, rents his mountain house for 210 days and uses it for personal use for 25 days during the year, not a leap year. Income and expenses associated with the property are: Rental income $ 24,000 Mortgage interest payments 12,000 Property tax payments 8,000 Depreciation 7,000 Utility payments 5,000 Maintenance payments 4,000 If Mario is allowed a choice, Mario would choose to use the court approach to allocating mortgage interest and property taxes. Determine the amount of expense that Mario would deduct from AGI on his current year tax return associated with the mountain house. Hint: Determine the correct classification of the mountain house. Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.

Ned is a head of household with a dependent son, Todd, who is a full-time student. This year Ned made the following expenditures related to Todd's support:   Auto insurance premiums $ 1,700 Room and board at Todd’s school 2,200 Health insurance premiums (not through an exchange) 600 Travel (to and from school) 350   What amount can Ned include in his itemized deductions?

Tamar owns a condominium near Cocoa Beach in Florida. In 2022, she incurs the following expenses in connection with her condo: Insurance Advertising expense Mortgage interest Property taxes Repairs & maintenance Utilities Depreciation $ 1,080 670 4,650 1,320 1,180 1,130 10,500 During the year, Tamar rented out the condo for 96 days, receiving $26,500 of gross income. She personally used the condo for 44 days during her vacation. Tamar's itemized deduction for nonrental taxes is less than $10,000 by more than the property taxes allocated to the rental use of the property. Assume Tamar uses the Tax Court method of allocating expenses to rental use of the property. Assume 365 days in the current year. Note: Do not round apportionment ratio. Round all other dollar values to the nearest whole dollar amount. Required: a. What is the total amount of for AGI (rental) deductions Tamar may deduct in the current year related to the condo (assuming she itemizes deductions before considering…

In 2022, Elaine paid $2,320 of tuition and $1,300 for books for her dependent son to attend State University this past fall as a freshman. Elaine files a joint return with her husband. What is the maximum American opportunity tax credit that Elaine can claim for the tuition payment and books in each of the following alternative situations?  Note: Leave no answer blank. Enter zero if applicable. Required: Elaine's AGI is $95,500. Elaine's AGI is $178,000. Note: Round your intermediate calculations to the nearest whole dollar amount. Elaine's AGI is $223,000.

Lionel is an unmarried law student at State University Law School, a qualified educational institution. This year Lionel borrowed $34,000 from County Bank and paid interest of $2,040. Lionel used the loan proceeds to pay his law school tuition. Calculate the amounts Lionel can deduct for interest on higher-education loans under the following circumstances: Note: Leave no answer blank. Enter zero if applicable. b. Lionel's AGI before deducting interest on higher-education loans is $84,000. Answer is complete but not entirely correct. $ Interest deduction 1,496 X

In each of the following independent situations, determine how much, if any, qualifies as a deduction for AGI under § 222 (qualified tuition and related expenses). If an amount is zero, enter "0". Click here to access Exhibit 9.1 Limitations for Qualified Tuition Deduction. a. Lily is single and is employed as an architect. During 2020, she spends $4,100 in tuition to attend law school at night. Her modified AGI (MAGI) is $64,000. How much is her deduction for AGI under § 222 (qualified tuition and related expenses)? b. Liam is single and is employed as a pharmacist. During 2020, he spends $2,400 ($2,100 for tuition and $300 for books) to take a course in herbal supplements at a local university. His MAGI is $81,000. How much is his deduction for AGI under § 222 (qualified tuition and related expenses)? c. Hailey is married and is employed as a bookkeeper. She spends $5,200 for tuition and $900 for books and supplies in her pursuit of a bachelor's degree in accounting. Her MAGI is…

Doreen is single and has three dependent children aged 12, 14 and 16. The children are full time students and have no income. Doreen is not entitled to SAPTO. Her income for the 2022 year is as follows:Doreen$60,877 Taxable Income$29,999 RFBA (exempt employer)$ 5,200 RESC$22,344 HELP DebtWhat will Doreen’s compulsory HELP Debt Repayment be for the 2022 year?

Tamar owns a condominium near Cocoa Beach in Florida. In 2023, she incurs the following expenses in connection with her condo: Insurance $ 1,290 Advertising expense 825 Mortgage interest 5,400 Property taxes 970 Repairs & maintenance 770 Utilities 1,260 Depreciation 11,200 During the year, Tamar rented out the condo for 81 days, receiving $27,000 of gross income. She personally used the condo for 36 days during her vacation. Tamar's itemized deduction for nonrental taxes is less than $10,000 by more than the property taxes allocated to the rental use of the property. Assume Tamar uses the Tax Court method of allocating expenses to rental use of the property. Assume 365 days in the current year. Note: Do not round apportionment ratio. Round all other dollar values to the nearest whole dollar amount. Required: a. What is the total amount of for AGI (rental) deductions Tamar may deduct in the current year related to the condo (assuming she itemizes deductions before considering deductions…