Emil is itemizing deductions on his federal income tax return and had $1900 in non-reimbursed work expenses last year. If his AGI was $78,000 and if non-reimbursed work expenses are deductible to the extent that they exceed 2% of a taxpayer's AGI, how much can Emil deduct for non-reimbursed work expenses?
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Below are the choices that can be found from other source:
A.$340
B.$1560
C.$38
D.$1862
Below is the solution:
78000 x .0.02=1560
1900 - 1560=340
Answer:
Emil deduct for non-reimbursed work expenses = $340
Step-by-step explanation:
Given : Emil is itemizing deductions on his federal income tax return and had $1900 in non-reimbursed work expenses last year.
If his AGI was $78,000 and if non-reimbursed work expenses are deductible to the extent that they exceed 2% of a taxpayer's AGI.
To find : How much can Emil deduct for non-reimbursed work expenses?
Solution :
Non-reimbursed work expenses is 2% of a taxpayer's AGI.
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$1900 in non-reimbursed work expenses
Emil deduct for non-reimbursed work expenses = $1900-$1560
= $340