Homework Answers
For standard couples filing jointly, the deduction is $24,000 and for couples over 65, additional $2600 can be filed and therefore total is
$24000+$2600=$26,600
Therefore (c)$26,600 is the answer to this question
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L idl FUTURO Question 41 of 75. What is the 2018 standard deduction for a couple...
For each of the following independent situations determine the amount of the standard deduction that the...
For each of the following independent situations determine the amount of the standard deduction that the taxpayers should claim on their 2018 income tax returns. Table for the standard deduction Filing Status 2018 Standard Deduction Single $ 12,000 Married, filing jointly 24,000 Married, filing separately 12,000 Head of household 18,000 Qualifying widow(er) 24,000 1. Adam is 45 years old, in good health, and single. $ 2. Bill and Betty are married and file a joint return. Bill is 66 years...
Which of the following is a true statement? Multiple Choice O The standard deduction is increased...
Which of the following is a true statement? Multiple Choice O The standard deduction is increased for taxpayers who are blind or deaf at year-end. ( A married couple is only entitled to one addition to their standard deduction even if both spouses are both over age 65. Bunching itemized deductions is a legal method of tax avoidance. The standard deduction is subject to a phase-out based on AGI. о All of the choices are true.
Which of the following is a true statement? Multiple Choice arded The standard deduction is increased...
Which of the following is a true statement? Multiple Choice arded The standard deduction is increased for taxpayers who are blind or deaf of year-end. A married couple is only entitled to one addition to their standard deduction even if both spouses are both over age 65 Bunching itemized deductions is a legal method of tax avoidance The standard deduction is subject to a phase-out based on AGI All of these choices are true.
Question 49 of 75 est on home equity debt is fully deductible as long as the debt is used to_ O P...
question 49 of 75 est on home equity debt is fully deductible as long as the debt is used to_ O Pay for personal living expenses O To pay off credit card debts To buy, build or substantially improve a main home or second home. O To purchase a new vehicle. □Mark for follow up Question 50 of 75. Written substantiation is required for all contributions to qualified charitable organizations when the am O $50 or more. O $100 or...
Determine the amount of the standard deduction for each of the following taxpayers for tax year...
Determine the amount of the standard deduction for each of the following taxpayers for tax year 2019: Christina, who is single. Adrian and Carol, who are filing a joint return. Their son is blind. Peter and Elizabeth, who are married and file separate tax returns. Elizabeth will itemize her deductions. Karen, who earned $1,100 working a part-time job. She can be claimed as a dependent by her parents. Rodolfo, who is over 65 and is single. Bernard, who is a...
Required: Determine the amount of the standard deduction for each of the following taxpayers for tax...
Required: Determine the amount of the standard deduction for each of the following taxpayers for tax year 2019: a. Christina, who is single. b. Adrian and Carol, who are filing a joint return. Their son is blind. c. Peter and Elizabeth, who are married and file separate tax returns. Elizabeth will itemize her deductions. d. Karen, who earned $1,100 working a part-time job. She can be claimed as a dependent by her parents. e. Rodolfo, who is over 65 and...
Question 44 of 75. h (35) is divorced from Dan (40). They are the parents of Boyd (12). Boyd live...
Question 44 of 75. h (35) is divorced from Dan (40). They are the parents of Boyd (12). Boyd lives with his mother, Barb, who pays over half ost of maintaining the home. The divorce decree gives Dan the unconditional right to claim the dependency exemption for filing status is 0 Head of household. O Married filing jointly O Married fling separately O Single tion for Boyd. Boyd meets all of the tests for dependency for Barb as a qualifying...
Exercise 3-18 (LO. 2) Compute the 2019 standard deduction for the following taxpayers. If an amount...
Exercise 3-18 (LO. 2) Compute the 2019 standard deduction for the following taxpayers. If an amount is zero, enter "O". Click here to access the standard deduction table to use. 27.000 a. Ellie is 15 and claimed as a dependent by her parents. She reports $800 in dividends income and $1,400 in wages from a part-time job. b. Ruby and Woody are married and file a joint tax return, Ruby is age 66, and Woody $ is 69. Their taxable...
Data Table Salary Taxable interest income Itemized deductions $ 2,300 800 450 STANDARD DEDUCTION Filing Status...
Data Table Salary Taxable interest income Itemized deductions $ 2,300 800 450 STANDARD DEDUCTION Filing Status Married individuals filing joint returns and surviving spouses Heads of households Unmarried individuals (other than surviving spouses and heads of households) Married individuals filing separate returns Additional standard deduction for the aged and the blinod $ 24,000 18,000 12,000 12,000 Individual who is married and surviving spouses Individual who is unmarried and not a surviving spouse ,300 ,600 Taxpayer claimed as dependent on another...
Question 2 of 15. Bob (67) is single and not blind. What is his standard deduction...
Question 2 of 15. Bob (67) is single and not blind. What is his standard deduction for 2019? $12,000 $12,200 $13,850 $18,350 Mark for follow up Summary Next >> Save / Return Later
Which of the following is a true statement? Multiple Choice O The standard deduction is increased for taxpayers who are blind or deaf at year-end. ( A married couple is only entitled to one addition to their standard deduction even if both spouses are both over age 65. Bunching itemized deductions is a legal method of tax avoidance. The standard deduction is subject to a phase-out based on AGI. о All of the choices are true.
Which of the following is a true statement? Multiple Choice arded The standard deduction is increased for taxpayers who are blind or deaf of year-end. A married couple is only entitled to one addition to their standard deduction even if both spouses are both over age 65 Bunching itemized deductions is a legal method of tax avoidance The standard deduction is subject to a phase-out based on AGI All of these choices are true.
question 49 of 75 est on home equity debt is fully deductible as long as the debt is used to_ O Pay for personal living expenses O To pay off credit card debts To buy, build or substantially improve a main home or second home. O To purchase a new vehicle. □Mark for follow up Question 50 of 75. Written substantiation is required for all contributions to qualified charitable organizations when the am O $50 or more. O $100 or...
Question 44 of 75. h (35) is divorced from Dan (40). They are the parents of Boyd (12). Boyd lives with his mother, Barb, who pays over half ost of maintaining the home. The divorce decree gives Dan the unconditional right to claim the dependency exemption for filing status is 0 Head of household. O Married filing jointly O Married fling separately O Single tion for Boyd. Boyd meets all of the tests for dependency for Barb as a qualifying...
Exercise 3-18 (LO. 2) Compute the 2019 standard deduction for the following taxpayers. If an amount is zero, enter "O". Click here to access the standard deduction table to use. 27.000 a. Ellie is 15 and claimed as a dependent by her parents. She reports $800 in dividends income and $1,400 in wages from a part-time job. b. Ruby and Woody are married and file a joint tax return, Ruby is age 66, and Woody $ is 69. Their taxable...
Data Table Salary Taxable interest income Itemized deductions $ 2,300 800 450 STANDARD DEDUCTION Filing Status Married individuals filing joint returns and surviving spouses Heads of households Unmarried individuals (other than surviving spouses and heads of households) Married individuals filing separate returns Additional standard deduction for the aged and the blinod $ 24,000 18,000 12,000 12,000 Individual who is married and surviving spouses Individual who is unmarried and not a surviving spouse ,300 ,600 Taxpayer claimed as dependent on another...
Question 2 of 15. Bob (67) is single and not blind. What is his standard deduction for 2019? $12,000 $12,200 $13,850 $18,350 Mark for follow up Summary Next >> Save / Return Later
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