Homework Clinic

Social Science Clinic => Accounting => Topic started by: ARLKQ on Sep 13, 2020

Title: Self-employed individuals may claim, as a deduction for adjusted gross income, 50 percent of their
Post by: ARLKQ on Sep 13, 2020

Question 1

On Form 1040, deductions for adjusted gross income include the amounts paid for all of the following except
◦ alimony.
◦ home mortgage interest.
◦ student loan interest.
◦ moving expenses.

Question 2

Self-employed individuals may claim, as a deduction for adjusted gross income, 50 percent of their
◦ traditional IRA contributions.
◦ disability insurance premiums.
◦ health insurance premiums.
◦ self-employment tax.

Title: Self-employed individuals may claim, as a deduction for adjusted gross income, 50 percent of their
Post by: sierrahalpin on Sep 13, 2020

Answer 1

home mortgage interest.

Answer 2

self-employment tax.