please answer the following questions 204. Chloe lived in Portland and accepted a...
50.1K
Verified Solution
Question
Accounting
please answer the following questions
204. Chloe lived in Portland and accepted a job in Atlanta. Under an accourtable pian, her employe for her actual traveling expenses from Portiand to Atianta and the cost of moving her employer included $3.200 on her Form W-2, box 12, with Code P. However, Crice's allowatle moing were $3,900. What amount can she deduct as moving expenses on Form 303 Moving furriture to Atianta Crice erpense A $0 $350 $700 S3,200 205. Generally, the amount a taxpayer may deduct for the Studert Loan Interest Deduction is the lesser df whar amount or the amount of interest he or she actually paid? A. $1,000 B. $1,500 C. $2,000 D. $2,500 206. Renee works at Indigo Inc. and attends school part-time as part of her companys educational assistance program. In 2016 her company reimbursed her a total of $8 250 for tuition, books, supplies, fees, ec related her schooling. How much of this amount can Renee exclude from her gross income? A $0, this is a company sponsored beneft and does affect the individual's return B. $5,250, the maximum exclusion allowed under an employer's educational asastance progam C. $5,750 the maximum exclusion allowed under an employers educational assistance prograr D. $6,250 the maximum exclusion allowed under an employers educational assistance program Lesson 13 207. Stan figured his adjusted gross income for 2016 was $40,000. He paid medical expenses of $2 500 What amount of his medical expenses can he deduct on his tax return? A $0 B. $500 C. $1,500 D. $4,000 208. In 2016 Bl Jones drove 3,800 miles for medical reasons He spent $500 for gas, $30 tor ail and 5100 tor tals and parking Using ether actual expenses or standard mleage rate, what is the argest amount he can inclute tor car expenses in his medical expenses on his tax return? A $630 B $658 C $688 D. $822 209 Which of the following expenses are not deductible as medical expenses? A Insulin used for diabetes e Wig purchased upon the advice of a physician for the mental health of a patient who has icst all of his or her hair from disease C Swimming lessons recommended by a doctor for improvement of general heat D. Acupuncture used for migraines 210 Susan is a 45-year-oid single filing taxpayer What is the maximum amount of qualified langem care insurance premiums she is allowed to include as medical expenses on Schedule A (Fom 1040)p A$380 B 5730 C 51 430 D $3 800Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
- Unlimited Question Access with detailed Answers
- Zin AI - 3 Million Words
- 10 Dall-E 3 Images
- 20 Plot Generations
- Conversation with Dialogue Memory
- No Ads, Ever!
- Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Other questions asked by students
StudyZin's Question Purchase
1 Answer
$0.99
(Save $1 )
One time Pay
- No Ads
- Answer to 1 Question
- Get free Zin AI - 50 Thousand Words per Month
Best
Unlimited
$4.99*
(Save $5 )
Billed Monthly
- No Ads
- Answers to Unlimited Questions
- Get free Zin AI - 3 Million Words per Month
*First month only
Free
$0
- Get this answer for free!
- Sign up now to unlock the answer instantly
You can see the logs in the Dashboard.