A taxoayer eho claims the standard dduction rather thanitemizing may still be eligable to claim...

A taxoayer eho claims the standard dduction rather than itemizing may still be eligable to claim all of the following adjustments to income Except

Educator Expenses

Health Savings Account

Medical expense deduction

Student loan interest

Expert Solution

Requirement 1 (Question 1):-

The correct answer to the question is Option B - Health Savings account. Contributions to an Health Savings Account (HSA) are deductible as an adjustment to Income. We generally dont deduct the amount contributed to Health Savings Account as an Itemized deduction but rather this is shown as an adjustment to income.

Option A - Educator expenses are a valid form of Itemized deduction and hence is not the correct answer

Option C - Medical expense in excess of 7.5% of AGI are allowed to be deducted as an Itemized Deduction and hence is a valid form of deduction.

Option D is incorrect as Student Loan interest is an itemized deduction.

ekkarill92 answered 2 years ago

The Foster Insurance company developed standard times for processing claims. When a claim was received at...

The Foster Insurance company developed standard times for processing claims. When a claim was received at the processing center, it was first reviewed and classified as simple or complex. The standard time for processing was: Simple claim 30 minutes Complex claim 3.5 hours Employees were expected to be productive 8 hours per day. Compensation costs were $93 per day per employee. During April, which had 22 working days, the following number of claims were processed: Simple claims 3,100 processed Complex...

An marine insurance company monitors the largest claim paid each month. Claims may be paid on...

An marine insurance company monitors the largest claim paid each month. Claims may be paid on three types of boats: fishing vessel, yacht and speed boat. The probability that the largest claim is from a yatch is 0.26, and that it is from a speed boat is 0.12, and that it is from a fishing vessel is 0.62. Calculate the probability that over a four month period, the largest claim is from a fishing vessel on a least 2 more...

what is the distinction between claims and support the claim.

Which of the following taxpayers may claim the standard mileage rate? Kamila, a sole proprietor, drove...

Which of the following taxpayers may claim the standard mileage rate? Kamila, a sole proprietor, drove her new automobile 3,199 miles for business in 2020. She kept a contemporaneous record of her mileage. Merlin, a sole proprietor, drove his 2018 automobile 15,832 miles for his business in 2020. He has been using actual expenses since he put the vehicle into service. Joyce is a volunteer at the American Red Cross in her community. She estimates she drove at least 2,000...

Testing Claims You wish to test the following claim ( H a ) at a significance...

Testing Claims You wish to test the following claim ( H a ) at a significance level of α = 0.001 . H o : p = 0.71 H a : p < 0.71 You obtain a sample of size n = 636 in which there are 420 successful observations. What is the test statistic for this sample? (Report answer accurate to three decimal places.) test statistic = 0.573 Incorrect What is the p-value for this sample? (Report answer accurate...

A claims representative suspects that an insured has committed fraud in submitting a claim for stolen...

A claims representative suspects that an insured has committed fraud in submitting a claim for stolen property by including items that were not stolen. The claims representative believes that the insurer can deny the claim because of the fraud but does not have sufficient evidence to meet the legal standards to prove fraud. The claims representative considers offering less that a fair amount to settle the claim in hopes that the insured will accept the settlement. This course of action...

What are the criteria for making a claim at a small claims court ? What is the time limit ?

(1)The following two claims are similar to the claim in the triangle problem discussed in lecture,...

(1)The following two claims are similar to the claim in the triangle problem discussed in lecture, but there are subtle differences. Either prove or disprove each claim. (a) Let T(n) be: C(n, 3) triangles are formed by n lines in the plane if no three of the lines intersect at a single point. ∀n ∈ N, n ≥ 3, T(n). (b) Let R(n) be: C(n, 3) triangles are formed by n non-parallel lines in the plane. ∀n ∈ N, n...

Even when there are no externalities in a market, a government may still tax a good...

Even when there are no externalities in a market, a government may still tax a good such as petrol to earn revenue. Describe what happens to each of the surpluses (including total surplus) in the market for petrol when this occurs, and why. What elasticity is the market for petrol likely to exhibit? Explain how elasticity influences the impact of the price change on total surplus.

1a.Number of Independent Claims: 1b.Number of Dependent Claims: 1c.In the space below, rewrite the first claim (independent) in your own words:

1a.Number of Independent Claims: 1b.Number of Dependent Claims: 1c.In the space below, rewrite the first claim (independent) in your own words: What is claimed is:1. A method for treating inflammatory diseases comprising administering to a subject in need of treatment an effective anti-inflammatory amount of a compound of formula I: ##STR3##wherein R.sub.1 is hydrogen or lower alkyl and n is an integer of from 4 to 6, or a pharmaceutically acceptable salt thereof.2. The method of claim 1, wherein...

Question