Classify deductions for agi


Task: Classify deductions for AGI or a deduction from AGI or non deductible.

1) Amos contributes $500 to his H.R. 10 plan (i.e., a retirement plan for a self-employed individual).

2) Keith pays $500 of child support to his former wife, Renee, for the support of their son, Chris.

3) Judy pays $500 for professional dues that are reimbursed by her employer.

4) Ted pays $500 as the monthly mortgage payment on his personal residence. Of this amount, $100 represents a payment on principal, and $400 represents an interest payment.

5) Lynn pays $500 to a moving company for moving her house hold goods to Detroit where she is starting a new job. She is not reimbursed by her employer.

6) Ralph pays property taxes of $1,500 on his personal residence.

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Accounting Basics: Classify deductions for agi
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