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Mathematics, 15.07.2020 01:01 Ashbff18

Clem is married and is a skilled carpenter. Clem's wife, Wanda, works part-time as a substitute grade school teacher. Determine the amount of Clem's expenses that are deductible for AGI this year (if any) under the following independent circumstances: (Leave no answer blank. Enter zero if applicable.) a. Clem is self-employed and this year he incurred $425 in expenses for tools and supplies related to his job. Since neither were covered by a qualified health plan, Wanda paid health insurance premiums of $3,870 to provide coverage for herself and Clem (not through an exchange).
b. Clem and Wanda own a garage downtown that they rent to a local business for storage. This year they incurred $1,750 in utilities and depreciation of $1,225.c. Clem paid self-employment tax of $15,200 (the employer portion is $7,600), and Wanda had $5,700 of Social Security taxes withheld from her pay. d. Clem paid $131 to rent a safe deposit box to store his coin collection. Clem has collected coins intermittently since he was a boy, and he expects to sell his collection when he retires.

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Clem is married and is a skilled carpenter. Clem's wife, Wanda, works part-time as a substitute grad...
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