Homework Answers
His standard deduction is equal to earned income plus 350 = 4000 + 350 = 4,350
Answer is:
4,350
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QUESTION 1 Calculate the amount of the Standard Deduction for the following taxpayer: Theo is 20...
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...
Determine the appropriate number of Qualified Dependents for the following taxpayer: T) is unmarried and supports...
Determine the appropriate number of Qualified Dependents for the following taxpayer: T) is unmarried and supports his son and his son's wife, both of whom lived with him for the entire year. His son and daughter-in-law (both age 20) file a joint return to get a full refund, as their gross income was $3,500. Both son and daughter-in-law are full-time students at a local college. QUESTION 2 Identify the best Filing Status for the following taxpayer: Ted is divorced and...
EXCES 2 (Algorithmic) (LO. 2) Compute the standard deduction for the following taxpayers. If an amount...
EXCES 2 (Algorithmic) (LO. 2) Compute the standard deduction for the following taxpayers. If an amount is zero, enter "o". Click here to access the standard deduction table to use. a 3,510 7 X Elie is 15 and claimed as a dependent by her parents. She has $1.650 in dividends income and $3.160 in wages from a part-time job. b. Ruby and Woody are married and file a joint tax return. Ruby is age 66. and Woodys is 69. Their...
Compute the 2020 standard deduction for the following taxpayers. If an amount is zero, enter "0"....
Compute the 2020 standard deduction for the following taxpayers. If an amount is zero, enter "0". Click here to access the standard deduction table to use. a. Ellie is 15 and claimed as a dependent by her parents. She has $1,550 in dividends income and $2,920 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 retirement income is $11,910. c. Shonda...
Compute the standard deduction for the following taxpayers. If an amount is zero, enter "0". a....
Compute the standard deduction for the following taxpayers. If an amount is zero, enter "0". a. Margie is 15 and claimed as a dependent by her parents. She reports $600 in dividends income and $2,880 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 retirement income is $12,495. $ c. Shonda is age 68 and single. She is claimed by...
Compute the standard deduction for the following taxpayers. If an amount is zero, enter "O". Click...
Compute the standard deduction for the following taxpayers. If an amount is zero, enter "O". Click here to access the standard deduction table to use. a. Ellie is 15 and claimed as a dependent by her parents. She has $800 in dividend income and $1,480 in wages from a part-time job. 1,750 15,100 b. Ruby and Woody are married and file a joint tax return. Ruby is age 66, and Woody $ is 69. Their taxable retirement income is $11,715....
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...
Exercise 3-21 (Algorithmic) (LO. 2) Compute the standard deduction for the following taxpayers. If an amount is zero, e...
Exercise 3-21 (Algorithmic) (LO. 2) Compute the standard deduction for the following taxpayers. If an amount is zero, enter "0". Click here to access the standard deduction table to use. Ellie is 15 and claimed as a dependent by her parents. She has $400 in dividends а. х income and $1,600 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 retirement...
ercise 9-2 (Algorithmic) (LO. 2) Compute the standard deduction for the following taxpayers. If an amount...
ercise 9-2 (Algorithmic) (LO. 2) Compute the standard deduction for the following taxpayers. If an amount is zero, enter "0". Click here to access the standard deduction table to use. a. Margie is 15 and claimed as a dependent by her parents. She has $475 in dividend income and $2,520 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 retirement...
Compute the 2020 standard deduction for the following taxpayers. If an amount is zero, enter "0"....
Compute the 2020 standard deduction for the following taxpayers. If an amount is zero, enter "0". Click here to access the standard deduction table to use. $ $ a. Ellie is 15 and claimed as a dependent by her parents. She has $500 in dividends income and $3,440 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 retirement income is $11,325....
Determine the appropriate number of Qualified Dependents for the following taxpayer: T) is unmarried and supports his son and his son's wife, both of whom lived with him for the entire year. His son and daughter-in-law (both age 20) file a joint return to get a full refund, as their gross income was $3,500. Both son and daughter-in-law are full-time students at a local college. QUESTION 2 Identify the best Filing Status for the following taxpayer: Ted is divorced and...
EXCES 2 (Algorithmic) (LO. 2) Compute the standard deduction for the following taxpayers. If an amount is zero, enter "o". Click here to access the standard deduction table to use. a 3,510 7 X Elie is 15 and claimed as a dependent by her parents. She has $1.650 in dividends income and $3.160 in wages from a part-time job. b. Ruby and Woody are married and file a joint tax return. Ruby is age 66. and Woodys is 69. Their...
Compute the 2020 standard deduction for the following taxpayers. If an amount is zero, enter "0". Click here to access the standard deduction table to use. a. Ellie is 15 and claimed as a dependent by her parents. She has $1,550 in dividends income and $2,920 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 retirement income is $11,910. c. Shonda...
Compute the standard deduction for the following taxpayers. If an amount is zero, enter "O". Click here to access the standard deduction table to use. a. Ellie is 15 and claimed as a dependent by her parents. She has $800 in dividend income and $1,480 in wages from a part-time job. 1,750 15,100 b. Ruby and Woody are married and file a joint tax return. Ruby is age 66, and Woody $ is 69. Their taxable retirement income is $11,715....
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...
Exercise 3-21 (Algorithmic) (LO. 2) Compute the standard deduction for the following taxpayers. If an amount is zero, enter "0". Click here to access the standard deduction table to use. Ellie is 15 and claimed as a dependent by her parents. She has $400 in dividends а. х income and $1,600 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 retirement...
Compute the 2020 standard deduction for the following taxpayers. If an amount is zero, enter "0". Click here to access the standard deduction table to use. $ $ a. Ellie is 15 and claimed as a dependent by her parents. She has $500 in dividends income and $3,440 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 retirement income is $11,325....
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