Exam 4: Adjustments for Adjusted Gross Income

Qualified self-employed taxpayers can deduct,as a for AGI deduction,80% of health insurance payments for 2014.

Which of the following is not deductible as a moving expense?

For self-employed taxpayers,¾ of the amount of self-employment taxes are deductible as an above-the-line deduction.

Under a divorce agreement executed in 2014,periodic payments of either cash or property must be made at regular intervals to be deductible as alimony.

What is a Health Savings Account (HSA)?

All of the following are requirements for a payment to be considered alimony except,

In 2014,Miguel accepted a new job and moved from San Diego to Boston to begin work.He incurred moving expenses for his household goods and furniture of $3,500.Prior to moving,Miguel flew to Boston to look for a new residence.The transportation and lodging for this trip to Boston was $900 and his meals were $150.The cost of his travel during the actual move to Boston was $500 which included $75 for meals.Calculate the amount of Miguel's moving expense deduction for 2014.

Qualification under the 900-hour working test for the educator's expense deduction is measured by:

What is the amount of self-employment tax that self-employed individuals must pay and what is the proper treatment on their tax return?