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17 February, 09:04

Gail is a single elementary school teacher. She buys the following items for use in her classroom in 2019: Construction paper and tissues $45 Materials for decorating the classroom bulletin boards $200 Artist's smock used for in-class finger painting $30 12 Dozen erasers $15 What amount can Gail deduct either as a for or from AGI deduction in 2019? a. $250 as a for AGI deduction and $0 as a from AGI deduction b. $250 as a for AGI deduction and $40 as a from AGI deduction c. $290 as a for AGI deduction and $0 as a from AGI deduction d. $250 as a for AGI deduction and $30 as a from AGI deduction (subject to 2% of AGI)

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  1. 17 February, 12:36
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    A) $250 as a for AGI deduction and $0 as a from AGI deduction

    Explanation:

    Due to the Tax Cuts and Jobs Act, a teacher can only deduct classroom expenses up to $250.

    The $250 are above the line deductions that lower your adjusted gross income (AGI), while the $0 represents below the line deductions made once your total AGI has been calculated.
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