Scott is a self-employed plumber and his wife,Emily,is a full-time employee for the University.Emily has health insurance from a qualified plan provided by the University,but Scott has chosen to purchase his own health insurance rather than participate in Emily's plan.Besides paying $5,400 for his health insurance premiums,Scott also pays the following expenses associated with his plumbing business:
Plurrbing tools and supplies
Rent on Scott'spluribirg shop
Trariportation between Scott's shop and yarious job sites
Plumber s wiforr
Plumbirg tuck rental
Self ermloymert tax (1/2 is employer share)
7,200 400 What is the amount of deductions for AGI that Scott can claim this year (2017)?
Correct Answer:
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$15,500 = $1,300 + $6,...
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