Homework Answers
| Description | Amount |
| (1)Gross Income | $120,000 |
| (2)For AGI Deductions | 0 |
| (3)Adjusted Gross Income | $120,000 |
| (4)Standard Deduction | $24,400 |
| (5)Itemized deductions | $0 |
| (6)Greater of standard deduction and itemized deductions | $24,400 |
| (7)Taxable Income | $95,600 |
| (8)Marginal Tax Rate | 22% |
| Married filing Jointly ($78,951 to $168,400 taxed at 22%) |
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Base your answers on this scenario: Sally and Jim Jones are married in Texas, a state...
Base your answers on this scenario: Sally and Jim Jones are married in Texas, a state...
Base your answers on this scenario: Sally and Jim Jones are married in Texas, a state with no state income tax. They have no children they can claim as dependents. In 2019, the household had no other source of income other than what is shown on Sally's W-2. They rent their home, and made no charitable contributions in 2019. If no information is provided for an item needed on the return, assume that it is zero, e.g., no contribution to...
Base your answers on this scenario: Sally and Jim Jones are married in Texas, a state...
Base your answers on this scenario: Sally and Jim Jones are married in Texas, a state with no state income tax. They have no children they can claim as dependents. In 2019, the household had no other source of income other than what is shown on Sally's W-2. They rent their home, and made no charitable contributions in 2019. If no information is provided for an item needed on the return, assume that It is zero, e.g., no contribution to...
Base your answers on this scenario: Sally and Jim Jones are married in Texas, a state...
Base your answers on this scenario: Sally and Jim Jones are married in Texas, a state with no state income tax. They have two children, age 14 and 16, who are claimed by them as dependents. In 2019, the household had no other source of income other than what is shown on Sally's W-2. They rent their home, and made no charitable contributions in 2019. If no information is provided for an item needed on the return, assume that it...
Question 5 6 pts Base your answers on this scenario: Sally and Jim Jones are marned...
Question 5 6 pts Base your answers on this scenario: Sally and Jim Jones are marned in Texas, a state with no state income tax. They have no children they can claim as dependents. In 2019, the household had no other source of income other than what is shown on Sally's W2. They rent their home, and made no charitable contributions in 2019. If no information is provided for an item needed on the return, assume that It is zero,...
Bea Jones (birthdate March 27, 1984) moved from Texas to Florida in December 2018. She lives...
Bea Jones (birthdate March 27, 1984) moved from Texas to Florida in December 2018. She lives at 654 Ocean Way, Gulfport, FL 33707. Bea's Social Security number is 466-78-7359 and she is single. Her earnings and income tax withholding for 2019 for her job as a manager at a Florida shrimp-processing plant are: Earnings from the Gulf Shrimp Co. $44,000 Federal income tax withheld 4,600 State income tax withheld 0 Bea's other income includes interest on a savings account at...
Comprehensive Problem 5-2A Bea Jones (birthdate March 27, 1984) moved from Texas to Florida in December...
Comprehensive Problem 5-2A Bea Jones (birthdate March 27, 1984) moved from Texas to Florida in December 2017. She lives at 654 Ocean Way, Gulfport, FL 33707. Bea's Social Security number is 466-78-7359 and she is single. Her earnings and income tax withholding for 2018 for her job as a manager at a Florida shrimp-processing plant are: Earnings from the Gulf Shrimp Co. $43,200 4,600 Federal income tax withheld State income tax withheld Bea's other income includes interest on a savings...
Please answer all questions, thanks 16. IDENTIFICATION Please enter your answers into the homework in Blueline...
Please answer all questions, thanks
16. IDENTIFICATION Please enter your answers into the homework in Blueline in order to receive credit. KEY: 1 An item that is included in the computation of "Total Income" 2 - An item that qualifies as an "Adjustment to Income" 3.- An item that is normally considered an "Itemized Deduction" 4 - An item that is a "Tax Credit" 5 - An item that is an example of an "Other Tax" 6 - None of...
Taxation
Taxpayer: Adrian Monk Home Address: Pine & Divisidero San Francisco, CA 94115 Social Security # 185-34-7786 Birth Date: 9/15/53 Status: Widower (Wife died in 2012) No Dependents Occupation: Detective with the San Francisco Police Dept. Income 2018: Wages & Taxes Withheld from W2 Form Taxable Wages - $108,000 Federal Income Tax Withheld - $14,984 State & Local Taxes Withheld - $4, 007 Interest Income: Golden Gate Bank - $880 State of California Highway Bond (Tax Free Municipal Bond) - $2,700...
what amount goes on 12a Tax? 1040 of 2019 1040 for a couple Married Filing Jointly...
what amount goes on 12a Tax?
1040 of 2019
1040 for a couple Married Filing Jointly with no dependents. 1040 PG 1 1040 PG 2 Page 2 of Form 1040. Some information does not carry over from Page 1 Form 1040 (2019) Holloway Holloway 412-34-5670 Page 2 John 12a Tax (see inst. Check it any from Form(s) (1) 8814 Martha 12) 4972 (3) 3,677 ® b Add Schedule 2. line 3, and line 12 and enter the total 3,677 13a...
Bob, an unmarried taxpayer filing single, has no dependents and reports the following items on his...
Bob, an unmarried taxpayer filing single, has no dependents and reports the following items on his 2019 federal income tax return: BE: (Click the icon to view the items reported in 2019.) 5 (Click the icon to view the 2019 AMT exemption amounts.) Read the requirements. Requirement a. What is the amount of Bob's AMT adjustments related to itemized deductions? Complete the table below to determine Bob's total AMT adjustments related to itemized deductions. (If a box is not used...
Base your answers on this scenario: Sally and Jim Jones are married in Texas, a state with no state income tax. They have no children they can claim as dependents. In 2019, the household had no other source of income other than what is shown on Sally's W-2. They rent their home, and made no charitable contributions in 2019. If no information is provided for an item needed on the return, assume that it is zero, e.g., no contribution to...
Base your answers on this scenario: Sally and Jim Jones are married in Texas, a state with no state income tax. They have no children they can claim as dependents. In 2019, the household had no other source of income other than what is shown on Sally's W-2. They rent their home, and made no charitable contributions in 2019. If no information is provided for an item needed on the return, assume that It is zero, e.g., no contribution to...
Base your answers on this scenario: Sally and Jim Jones are married in Texas, a state with no state income tax. They have two children, age 14 and 16, who are claimed by them as dependents. In 2019, the household had no other source of income other than what is shown on Sally's W-2. They rent their home, and made no charitable contributions in 2019. If no information is provided for an item needed on the return, assume that it...
Question 5 6 pts Base your answers on this scenario: Sally and Jim Jones are marned in Texas, a state with no state income tax. They have no children they can claim as dependents. In 2019, the household had no other source of income other than what is shown on Sally's W2. They rent their home, and made no charitable contributions in 2019. If no information is provided for an item needed on the return, assume that It is zero,...
Comprehensive Problem 5-2A Bea Jones (birthdate March 27, 1984) moved from Texas to Florida in December 2017. She lives at 654 Ocean Way, Gulfport, FL 33707. Bea's Social Security number is 466-78-7359 and she is single. Her earnings and income tax withholding for 2018 for her job as a manager at a Florida shrimp-processing plant are: Earnings from the Gulf Shrimp Co. $43,200 4,600 Federal income tax withheld State income tax withheld Bea's other income includes interest on a savings...
Please answer all questions, thanks
16. IDENTIFICATION Please enter your answers into the homework in Blueline in order to receive credit. KEY: 1 An item that is included in the computation of "Total Income" 2 - An item that qualifies as an "Adjustment to Income" 3.- An item that is normally considered an "Itemized Deduction" 4 - An item that is a "Tax Credit" 5 - An item that is an example of an "Other Tax" 6 - None of...
what amount goes on 12a Tax?
1040 of 2019
1040 for a couple Married Filing Jointly with no dependents. 1040 PG 1 1040 PG 2 Page 2 of Form 1040. Some information does not carry over from Page 1 Form 1040 (2019) Holloway Holloway 412-34-5670 Page 2 John 12a Tax (see inst. Check it any from Form(s) (1) 8814 Martha 12) 4972 (3) 3,677 ® b Add Schedule 2. line 3, and line 12 and enter the total 3,677 13a...
Bob, an unmarried taxpayer filing single, has no dependents and reports the following items on his 2019 federal income tax return: BE: (Click the icon to view the items reported in 2019.) 5 (Click the icon to view the 2019 AMT exemption amounts.) Read the requirements. Requirement a. What is the amount of Bob's AMT adjustments related to itemized deductions? Complete the table below to determine Bob's total AMT adjustments related to itemized deductions. (If a box is not used...
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