Arnold is employed as an assistant manager in the furniture division of a national chain of department stores.He is a recent college graduate with a degree in marketing.During 2016,he enrolls in the evening MBA program of a local university and incurs the following expenses: tuition,$4,200;books and computer supplies,$800;transportation expense to and from the university,$450;and meals while on campus,$400.Arnold is single and his annual AGI is $64,000.As to these expenses,what are Arnold's:
a.Deductions for AGI?
b.Deductions from AGI?
Correct Answer:
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a.$4,000.Although the tuition was $4,...
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