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Business, 04.03.2020 00:31 tyboutlife
Clem is married and is a skilled carpenter. Clem's wife, Wanda, works parttime 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:
A) Clem is self-employed and this year he incurred $525 for tools and supplies related to his job. Since neither were covered by a qualified health plan. Wanda paid health insurance premiums of $3,600 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 $1,250 in utilities and depreciation of $780.
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