ACC 456 STUDY Start With a Dream /acc456study.com ACC 456 STUDY Start With a Dream /acc456study.com | Page 15

·
a.How much income must Amy report if she collects the face
value of the policy upon the death of her mother?
·
b.Would Amy have to report any income if her brother had given
her the policy? Assume the only payment she made was $9,000 for the
premiums.
6-33
For or From AGI Deductions. Roberta is an accountant employed by a
local firm. During the year, Roberta incurs the following
unreimbursed expenses:
a. Identify which of these expenses are deductible and the amount that
is deductible by Roberta. Indicate whether they are deductible for or
from AGI.
b. Would the answers to Part a change if the accounting firm
reimburses Roberta for these expenses under an accountable plan?
c. Assume all of the same facts as in Part a, except that Roberta is self-
employed. Identify which of the expenses are deductible, and indicate
whether they are deductions for or from AGI.
I:6-35