Clem is married and is a skilled carpenter. Clem's wife, Wanda, works part time as...
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Accounting
Clem is married and is a skilled carpenter. Clem's wife, Wanda, works part time as a substitute grade school teacher. Determine the amount of Clem's expenses that are deductible for AGI this year if any under the following independent circumstances:
a Clem is selfemployed, and this year he incurred $ in expenses for tools and supplies related to his job. Because neither was covered by a qualified health plan, Clem paid health insurance premiums of $ to provide coverage for himself and Wanda not through an exchange b Clem and Wanda own a garage downtown that they rent to a local business for storage. This year they incurred expenses of $ in utilities and $ in depreciation. c Clem paid selfemployment tax of $the employer portion is $ and Wanda had $ of Social Security taxes withheld from her pay. d Clem paid $ to rent a safety deposit box to store his coin collection. Clem has collected coins intermittently since he was a child, and he expects to sell his collection when he retires.
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