What is the AGI limit above which each of the following taxpayers would not be eligible to receive a credit for the elderly or the disabled?
What is the AGI limit above which each of the following taxpayers would not be eligible to receive a credit for the elderly or the disabled?
| AGI Upper Limit | |
| a. A single taxpayer eligible for the credit who receives $1,400 of nontaxable social security benefits. | |
| b. Taxpayers filing a joint return for which one taxpayer is eligible for the credit and the taxpayers have received no social security benefits. | |
| c. Taxpayers filing a joint return, and both are eligible for the credit and received $3,400 of nontaxable social security benefits. |
Homework Answers
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What is the AGI limit above which each of the following taxpayers would not be eligible to receive a credit for the elderly or the disabled?
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6) April and Joey are both 74 years old and received $1,500 in nontaxable social security benefits. Their AGI for the year was $18,000. How much can April and Joey claim as a credit for the elderly or the disabled? A) $300. B) $1,125 C) S1,500. D) $2,000. 7) Tai and Song are ages 69 and 59, respectively, and file a joint return. They have AGI of $20,000 and received $2,000 in nontaxable social security benefits. How much can Tai...
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Taxation Question 43) Which of the following statements is correct? A) Taxpayers with household income which...
Taxation Question
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Which of the following taxpayers (all of whom have one qualifying child for purposes of the...
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which credits are charlie and samantha eligible to claim? a. credit for other dependents and earned...
which credits are charlie and samantha eligible to
claim?
a. credit for other dependents and earned income credit
b. child tax credit and earned income credit
c. chikd tax credit, child and dependent care credit, and
credit for other dependents
d. they dont qualify for any credits
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45 Which of the following taxpayers is eligible to claim the head of household filing status?...
45 Which of the following taxpayers is eligible to claim the head of household filing status? Marks: 1 Choose one answer a. The taxpayer's boyfriend lived in the taxpayer's home all of 2018. The boyfriend qualifies as the taxpayer's dependent b. The unmanied taxpayer pays more than half the cost of keeping his father in an assisted living facility. The father qualifes as the taxpayer's dependent c. The taxpayers married child lived in the taxpayer's home for the entire year....
Taxpayer information Andrew supports his cousin Mary, who does not live with him. Mary has no...
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a. Arnie is a single college student who earned $7,700 working part-time. He had $200 of...
a.
Arnie is a single college student who earned $7,700 working
part-time. He had $200 of interest income and received $1,000 of
support from his parents.
b.
Buddy is a single college student who earned $7,700 working
part-time. He had $1,600 of interest income and received $1,000
of support from his parents.
c.
Cindy is divorced and received $6,000 of alimony from her
former husband and earned $12,000 working as a secretary. She also
received $1,800 of child support for...
#2-42 Filing Requirement. Which of the following taxpayers must file a 2018 return? Explain why or...
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6) April and Joey are both 74 years old and received $1,500 in nontaxable social security benefits. Their AGI for the year was $18,000. How much can April and Joey claim as a credit for the elderly or the disabled? A) $300. B) $1,125 C) S1,500. D) $2,000. 7) Tai and Song are ages 69 and 59, respectively, and file a joint return. They have AGI of $20,000 and received $2,000 in nontaxable social security benefits. How much can Tai...
Taxation Question
43) Which of the following statements is correct? A) Taxpayers with household income which is more than 400% of the Federal Poverty Level are eligible to claim the premium tax credit. B) The premium tax credit is only available when the taxpayer files his or her tax return. C) The premium tax credit is designed to help eligible taxpayers pay some of their health insurance premium. D) Taxpayers who receive a credit are not required to file a...
1:2-39 tax payments. Dependency Requirements, Child Tax Credit, and Credit for Other Dependents. How many dependents does the taxpayer have, assuming the people involved are U.S. citizens? What amount of credit may be claimed for the taxpayer's dependents? a. Andrew supports his cousin Mary, who does not live with him. Mary has no income and is single. b. Bob and Ann are filing a joint return, Bob provided over one-half of his father's support. The father received Social Security benefits...
which credits are charlie and samantha eligible to
claim?
a. credit for other dependents and earned income credit
b. child tax credit and earned income credit
c. chikd tax credit, child and dependent care credit, and
credit for other dependents
d. they dont qualify for any credits
Interview Notes e and samantha are resident aliens, married, and want to file a joint return. They have three children. Harry is 8 years old and a resident alien. Sherry is 3 years...
45 Which of the following taxpayers is eligible to claim the head of household filing status? Marks: 1 Choose one answer a. The taxpayer's boyfriend lived in the taxpayer's home all of 2018. The boyfriend qualifies as the taxpayer's dependent b. The unmanied taxpayer pays more than half the cost of keeping his father in an assisted living facility. The father qualifes as the taxpayer's dependent c. The taxpayers married child lived in the taxpayer's home for the entire year....
Taxpayer information Andrew supports his cousin Mary, who does not live with him. Mary has no income and is single. Bob and Ann are filing a joint return. Bob provided over one-half of his fathers support. The father received Social Security benefits of $6,000 and taxable interest income of $800. The father is single and does not live with them. a. b. Clay provides 60% of his single daughters support. She earned $3,000 while attending school during the year as...
a.
Arnie is a single college student who earned $7,700 working
part-time. He had $200 of interest income and received $1,000 of
support from his parents.
b.
Buddy is a single college student who earned $7,700 working
part-time. He had $1,600 of interest income and received $1,000
of support from his parents.
c.
Cindy is divorced and received $6,000 of alimony from her
former husband and earned $12,000 working as a secretary. She also
received $1,800 of child support for...
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