1.) Marietta will use the single filing status for 2019. She owns shares of stock and...
1.) Marietta will use the single filing status for 2019. She owns shares of stock and during the year, she received dividends from this investment. She received a 2019 form 1099 Div from the company reporting a distribution of $1000 in total ordinary dividends, shown in box 1 and qualified dividends of $1000 shown inbox 2. Mariwtta's only other income was from wages. Her taxable income for the year was $36,500. How much tax will she owe on the dividend income?
A. $0
B. $120
C. $150
D. $400
2.)Roy(39) is a US citizen. He was married at the beginning of 2019. His wife lived in the household until august. Their divorce was finalized on Sept 30, and roy has not remarried. Roy provided 100% of support for his son, who lived with him all year and is his qualifying child. Roy's most advantageous filling status is?
A. Head of household.
B. Married filing seperate
C. Married filling joint
D. Single.
3.) The maximum amount of taxpayer may claim for the lifetime learning credit is?
A. 2000 per return
B. 2000per eligible student, including the taxpayer, spouse, and any dependent listed on return.
C. 2500 per return
D. 2500per eligible student, including the taxpayer, spouse, and any dependent listed on return.
4.) All-star who is 43 year old and single, earned 10000 in wages in 2019.the maximum amount he can contribute to a traditional IRA for 2019 is?
A. 0$
B.$6000
C. $7000
D. $10000
Homework Answers
Add Answer to:
1.) Marietta will use the single filing status for 2019. She
owns shares of stock and...
1.) Roy(39) is a US citizen. He was married at the beginning of 2019. His wife...
1.) Roy(39) is a US citizen. He was married at the beginning of
2019. His wife lived in the household until august. Their divorce
was finalized on Sept 30, and roy has not remarried. Roy provided
100% of support for his son, who lived with him all year and is his
qualifying child. Roy's most advantageous filling status is?
A. Head of household.
B. Married filing seperate
C. Married filling joint
D. Single.
Question 56 of 75. Carlie (28) is...
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...
1) A dependent child, age 18 and single has wages of $3,900 and dividend income of...
1) A dependent child, age 18 and single has wages of $3,900 and dividend income of $3,300 in tax ... Assume that she is subject to the kiddie tax, and her father, her sole surviving parent, has taxable income of $49,000 and files his 2014 return using the head of household filing status. What is the child's tax liability? 2) A taxpayer who provides 40% of the support of her parents and claims them as dependents because of a multiple...
1) A dependent child, age 18 and single has wages of $3,900 and dividend income of...
1) A dependent child, age 18 and single has wages of $3,900 and dividend income of $3,300 in tax year 2014. What is her standard deduction? 2) Refer to question 1. Assume that she is subject to the kiddie tax, and her father, her sole surviving parent, has taxable income of $49,000 and files his 2014 return using the head of household filing status. What is the child's tax liability? 3) A taxpayer who provides 40% of the support of...
9) Explain the rules for being an "abandoned spouse" and include which filing status should be...
9) Explain the rules for being an "abandoned spouse" and include which filing status should be used if one qualifies as an abandoned spouse. 10) Is it possible for a taxpayer to file "head of household" if he/she has a dependent child that lives in the home and over half of the cost of maintaining the home is paid by the taxpayer....but, the noncustodial parent actually claims the dependency exemption and child tax credit? 11) Sarah (age 32), single, has...
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....
this legend or statuses) in each of the following independent cases, using A - Single B...
this legend or statuses) in each of the following independent cases, using A - Single B Married, filing a joint return c Married, filing separate returns D Head of household E - Qualifying widow(er) Case Filing Status 1. The taxpayers are married on December 31 a 2. The taxpayer is single, with 3. The taxpayer is unmarried and i 4. The taxpayer is married and his spouse left midyear and has f the tax yea a dependent child living in...
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....
QUESTION 1 For purposes of determining head of household filing status, the taxpayer's mother or father...
QUESTION 1 For purposes of determining head of household filing status, the taxpayer's mother or father is considered to be a qualifying person of the taxpayer (even if the mother or father does not qualify as the taxpayer's dependent) as long as the taxpayer pays more than half the costs of maintaining the household of the mother or father. True False QUESTION 2 Lucy and Ricky have been married for 27 years. They have one child, Ricky Jr., who is...
Exhibit 3.4 Basic Standard Deduction Amounts Filing Status 2019 2020 $12,200 $12,400 24,400 24,800 Single Married,...
Exhibit 3.4 Basic Standard Deduction Amounts Filing Status 2019 2020 $12,200 $12,400 24,400 24,800 Single Married, filing jointly Surviving spouse Head of household 24,400 24,800 18,350 18,650 Married, filing separately 12,200 12,400 Problem 3-36 Charlotte (age 40) is a surviving spouse and provides all of the support of her four minor children who live with her (all are under age 16). She also maintains the household in which her parents live and furnished 60% of their support. Besides interest on...
1.) Roy(39) is a US citizen. He was married at the beginning of
2019. His wife lived in the household until august. Their divorce
was finalized on Sept 30, and roy has not remarried. Roy provided
100% of support for his son, who lived with him all year and is his
qualifying child. Roy's most advantageous filling status is?
A. Head of household.
B. Married filing seperate
C. Married filling joint
D. Single.
Question 56 of 75. Carlie (28) is...
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...
9) Explain the rules for being an "abandoned spouse" and include which filing status should be used if one qualifies as an abandoned spouse. 10) Is it possible for a taxpayer to file "head of household" if he/she has a dependent child that lives in the home and over half of the cost of maintaining the home is paid by the taxpayer....but, the noncustodial parent actually claims the dependency exemption and child tax credit? 11) Sarah (age 32), single, has...
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....
this legend or statuses) in each of the following independent cases, using A - Single B Married, filing a joint return c Married, filing separate returns D Head of household E - Qualifying widow(er) Case Filing Status 1. The taxpayers are married on December 31 a 2. The taxpayer is single, with 3. The taxpayer is unmarried and i 4. The taxpayer is married and his spouse left midyear and has f the tax yea a dependent child living in...
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....
QUESTION 1 For purposes of determining head of household filing status, the taxpayer's mother or father is considered to be a qualifying person of the taxpayer (even if the mother or father does not qualify as the taxpayer's dependent) as long as the taxpayer pays more than half the costs of maintaining the household of the mother or father. True False QUESTION 2 Lucy and Ricky have been married for 27 years. They have one child, Ricky Jr., who is...
Exhibit 3.4 Basic Standard Deduction Amounts Filing Status 2019 2020 $12,200 $12,400 24,400 24,800 Single Married, filing jointly Surviving spouse Head of household 24,400 24,800 18,350 18,650 Married, filing separately 12,200 12,400 Problem 3-36 Charlotte (age 40) is a surviving spouse and provides all of the support of her four minor children who live with her (all are under age 16). She also maintains the household in which her parents live and furnished 60% of their support. Besides interest on...
Most questions answered within 3 hours.
-
Using MARS simulator, write MIPS programs according to
the following scenarios: Receive a positive integer number...
asked 13 minutes ago -
An object in front of a concave mirror has a real image that is
11.5 cm...
asked 27 minutes ago -
Consider the reaction, C3 H8 + O2 --> CO2 + H2O. How many
moles of O2...
asked 2 hours ago -
You and your opponent both roll a fair die. If you both roll the
same number,...
asked 2 hours ago -
In a study of the accuracy of fast food​ drive-through orders,
Restaurant A had 257 accurate...
asked 2 hours ago -
Identify and describe in detail the four categories of
institutions that could be included in a...
asked 2 hours ago -
In python
class Customer:
def __init__(self, customer_id, last_name, first_name, phone_number, address):
self._customer_id = int(customer_id)
self._last_name =...
asked 2 hours ago -
What is an example of a limitation in implementing a new
ERP system and how it...
asked 2 hours ago -
In a section of 9.7cm of an artery with a radius of 2.6mm there
is a...
asked 2 hours ago -
the two carboxylic acid groups of aspartic acid have different
acidities with pKa values of 2.1...
asked 2 hours ago -
Would CuCO3 aqueous salt combined with calcium chloride
form a solid precipitate? If so, what would...
asked 2 hours ago -
How do ECM Solutions assist in embedding a culture of continuous
improvement in an organization? (Project...
asked 3 hours ago