ZuoTi.Pro
Question

Assume Samantha Jones had the following itemized deductions. Donations to church and other charities Medical and dental expen
business   accounting   
0 0
Add a comment Improve this question Transcribed image text
Next > < Previous
Sort answers by oldest

Homework Answers

Answer #1

Option B

Itemized deduction

Donations to church and other charities

3050

Medical expenses

1810

State income tax

1320

Job-related expenses

2115

Total itemized deduction

$8295

Itemized deduction = $8295

Standard deduction = $6350

Samantha Jones should use itemized deduction because the greater of itemized deduction or standard deduction should be deducted from AGI.

0 0
Add a comment
Know the answer?
Add Answer to:
Assume Samantha Jones had the following itemized deductions. Donations to church and other charities Medical and...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions

  • If Lola Harper had the following itemized deductions, should she use Schedule A or the standard...

    If Lola Harper had the following itemized deductions, should she use Schedule A or the standard deduction? The standard deduction for her tax situation is $12,000. Tax Deductions Donations to church and other charities Medical and dental expenses exceeding 10 percent of adjusted gross income State income tax $6,140 2.580 4,780 Lola Harper should use the

  • 2. If Lola Harper had the following itemized deductions, should she use Schedule A or the...

    2. If Lola Harper had the following itemized deductions, should she use Schedule A or the standard deduction? The standard deduction for her tax situation is $12,000. Donations to church and other charities, $6,050 Medical and dental expenses exceeding 10 percent of adjusted gross income, $2,400 State income tax, $4,690 5. What would be the average tax rate for a person who paid taxes of $4,584 on a taxable income of $41,670? 8. If $4,026 was withheld during the year...

  • 1. Daniel Simmons arrived at the following tax information: Gross salary: $62,250 Dividend income $140 Itemized...

    1. Daniel Simmons arrived at the following tax information: Gross salary: $62,250 Dividend income $140 Itemized deductions: $7,000 Interest earnings $75 One personal exemption $4050 Adjustments to income $850 What amount would Daniel report as taxable income? 2. If Samantha jones had the following itemized deductions, should she use schedule A or standard deduction. The standard deduction for her tax situation is $6350. Donations to the church and other charities $3050. Medical and dental expenses exceeding 10% of adjusted gross...

  • FINANCIAL PLANNING PROBLEMS 1. Computing Taxable Income. Thomas Franklin arrived at the following tax information Gross...

    FINANCIAL PLANNING PROBLEMS 1. Computing Taxable Income. Thomas Franklin arrived at the following tax information Gross salary, $41.780 Interest earnings, $225 Dividend income, $80 One personal exemption, $2,650 Itemized deductions, $3,890 Adjustments to income, $1,150 What amount would Thomas report as taxable income? (Obj.1) 2. Determining Tax Deductions. If Lola Harper had the fol lowing itemized deductions, should she use Schedule A or the standard deduction? The standard deduction for her tax situation is $6,050. (Obj. 2) Donations to church...

  • Itemized Deductions (LO. 4) Rebecca and Irving incur the following medical expenses during 2018: Medical insurance...

    Itemized Deductions (LO. 4) Rebecca and Irving incur the following medical expenses during 2018: Medical insurance premiums $4,655 Hospital 970 Doctors 2,035 Dentist 595 Veterinarian 200 Chiropractor 225 Cosmetic surgery 1,405 Over-the-counter drugs 160 Prescription drugs 195 Crutches 110 They receive $3,815 in reimbursements from their insurance company of which $295 is for the cosmetic surgery. Refer to Exhibit 8-2 to answer the following questions. What is their medical expense deduction if their adjusted gross income is the following: a....

  • You are trying to decide whether to use the​ $12,200 standard deduction or your itemized deductions​...

    You are trying to decide whether to use the​ $12,200 standard deduction or your itemized deductions​ (Schedule A) on your Form​ 1040, Line 9. Here is your​ information: Adjusted Gross Income​ ​ $40,000 Medical Expenses                                                                        ​$15,000 Interest on Student​ Loan $2,000 Interest on Home​ Mortgage $3,000 State and Local Income Taxes​ Paid $1,500 Charitable Gifts​ (in total) $1,000 Which deduction should you​ choose? A Itemized Deduction of​ $17,500 B. Itemized Deduction of​ $10,500 C. Itemized Deduction of​ $22,500 D. Standard...

  • Possible Options: Adjusted gross income Adjustments Capital gains tax categories Deductions Exemption Itemized deduction Standard Deduction...

    Possible Options: Adjusted gross income Adjustments Capital gains tax categories Deductions Exemption Itemized deduction Standard Deduction Steps to AGI Steps to taxable income 4. Vocabulary - Terminology for components of taxable income Components to Taxable Income Terminology Match the terms relating to the basic terminology and concepts of personal taxation on the right with the descriptions of the terms on the left. (Note: These are not necessarily complete definitions, but there is only one possible answer for each term.) Description...

  • Consider on the following data.      Adjusted gross income $ 54,710     Itemized deductions $ 12,850   Credit...

    Consider on the following data.      Adjusted gross income $ 54,710     Itemized deductions $ 12,850   Credit for child and dependent      care expenses $ 560     Federal income tax       withheld $ 6,960   Amount for personal exemptions $ 11,100     Tax rate on taxable       income   15 percent Would Beth and Roger Simmons receive a refund or owe additional taxes? What is the amount?   The result is (refund or payment due) of $ _____

  • Aaron, single, age 43, had AGI of $60,000 for 2019. He paid the following medical expenses...

    Aaron, single, age 43, had AGI of $60,000 for 2019. He paid the following medical expenses in 2019: Hospital expenses - skiing accident                                                                                                                     $5,600 Doctor bills & Prescriptions                                                                                                                                      1,400 Surgeon to get a nose job (not related to skiing injury)                                                                                     5,000 Medical expenses he paid for his child (claimed by his former wife as a dependent).                                  1,200 Nursing care expenses for Aaron’s dependent Father, including $600 for cable TV for his room.              6,000 Medical and dental premiums (his share), deducted...

  • Problem 6-34 (Algorithmic) (LO. 1) Daniel, age 38, is single and has the following income and...

    Problem 6-34 (Algorithmic) (LO. 1) Daniel, age 38, is single and has the following income and expenses in 2019: Salary income $141,000 Net rent income 21,500 Dividend income 2,500 30,000 8,300 3,000 1,500 Payment of alimony (divorce finalized in March 2019) Mortgage interest on residence Property tax on residence Contribution to traditional IRA (assume the amount is fully deductible) Contribution to United Church Loss on the sale of real estate (held for investment) Medical expenses State income tax Federal income...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT