ance h and wanda b are married now
John allen and wanda b are married previeously now divorced.
Penny and kyle are two child of wanda b and john allen but after divorced custody of child with wanda b.
&
Salaries. = 101000
Interest(after tds) = 1550
Dividend(after tds) = 950
Gift from parents. = exempt
Compensation from road
Runner company. = 90000
Lottery( after 30% tds) = 420
It refund. =400
Total. =194320
Deduction:
Interest on home mortgage. =(6000)
Chruch pledge. =(3600)
Life insurance premiume. =(1200)
Contribution to ira. =(5000)
Contribution to reelection fund=(500)
Net income. =178020
Note:
1) withheld tax should be deducted from tax payable determind.
2) penny income from her ability so it should not be clubbed with her parents income.
Cumulative Pr 51. Lance H. and Wanda B. Dean are married and live at 431 Yucca...
Lance H. and Wanda B. Dean are married and live at 431 Yucca Drive, Santa Fe, NM 87501. Lance works for the convention bureau of the local Chamber of Commerce, and Wanda is employed part-time as a paralegal for a law firm. During 2019, the Deans had the following receipts: Salaries ($60,000 for Lance, $41,000 for Wanda) $101,000 Interest income— City of Albuquerque general purpose bonds $1,000 Ford Motor company bonds 1,100 Ally Bank certificate of deposit 400 2,500 Child...
Lance H. and Wanda B. Dean are married and live at 431 Yucca Drive, Santa Fe, NM 87501. Lance works for the convention bureau of the local Chamber of Commerce, while Wanda is employed part-time as a paralegal for a law firm. During 2018, the Deans had the following receipts: Salaries ($60,000 for Lance, $41,000 for Wanda) $101,000 Interest income— City of Albuquerque general purpose bonds $1,000 Ford Motor company bonds 1,100 Ally Bank certificate of deposit 400 2,500 Child...
1 Lance H. and Wanda B. Dean are married and live at 431 Yucca Drive, Santa Fe, NM 87501. Lance works for the convention bureau of the local Chamber of Commerce, while Wanda is employed part-time as a paralegal for a law firm During 2018, the Deans had the following receipts: Salaries (560,000 for Lance, $41,000 for Wanda) Interest income $101,000 City of Albuquerque general purpose bonds $1,000 1,100 400 Ford Motor company bonds Ally Bank certificate of deposit Child...
Note: This problem is for the 2018 tax year Lance H. and Wanda B. Dean are married and live at 431 Yucca Drive, Santa Fe, NM 87501. Lance works for the convention bureau of the local Chamber of Commerce, while Wanda is employed part-time as a paralegal for a law firm. During 2018, the Deans had the following receipts: Salaries ($60,000 for Lance, $41,000 for Wanda) Interest income City of Albuquerque general purpose bonds $101,000 $1,000 1,100 Ford Motor company...