ZuoTi.Pro
Question

Which of the following taxpayers quality for the EC in 2019 not the year 2019 Show be true Select one or more: a. Wendy is si

business   accounting   
0 0
Add a comment Improve this question Transcribed image text
Next > < Previous
Sort answers by oldest

Homework Answers

Answer #1

Let's explore each answer to eliminate the wrong ones and find the right answer(s)

a) This option is incorrect since it fails to satisfy two conditions

  1. Wendy's child does not live with her hence the child does not count as a qualifying child
  2. Since Wendy does not have any qualifying child her AGI must be within $15,570 but, her AGI is $25,000

b) Assumption: Since nothing is mentioned whether Pasta is single or married, I am considering him to be married as rest of the options specifically mention single or HOH.

This option is correct since it satisfies all the conditions

  1. Pasta's two children count as Qualifying children as they are younger than the age of 19 and stay with him
  2. Given that Pasta's filing status is married and that his two children are qualifying children, his AGI must be within $52,493 which is also satisfied as his actual AGI is $43,000 + $4000 = $47,000

c) This option is correct since it satisfies the condition of the AGI being within $15,570 for a person with no qualifying child.

d) This option is correct since it satisfies the conditions of Credit for Other Dependents, which has a threshold AGI limit of $200,000, of shandra providing more than half of life support for her aged mother.

0 0
Add a comment
Know the answer?
Add Answer to:
Which of the following taxpayers quality for the EC in 2019 not the year 2019 Show...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions

  • Compute 2019 taxable income in each of the following independent situations. Click here to access the...

    Compute 2019 taxable income in each of the following independent situations. Click here to access the standard deduction table to use if required. a. Drew and Meg, ages 40 and 41, respectively, are married and file a joint return. In addition to four dependent children, they have AGI of $125,000 and itemized deductions of $27,000. AGI $125,000 Less: itemized deductions Taxable income $ b. Sybil, age 40, is single and supports her dependent parents, who live with her. Sybil also...

  • Compute 2019 taxable income in each of the following independent situations. Click here to access the...

    Compute 2019 taxable income in each of the following independent situations. Click here to access the standard deduction table to use if required. a. Drew and Meg, ages 40 and 41, respectively, are married and file a joint return. In addition to four dependent children, they have AGI of $125,000 and itemized deductions of $27,000. AGI $125,000 Less: itemized deductions 27,000 Taxable income 98,000 ✓ b. Sybil, age 40, is single and supports her dependent parents, who live with her....

  • Compute the taxable income for 2019 in each of the following independent situations. Click here to...

    Compute the taxable income for 2019 in each of the following independent situations. Click here to access the standard deduction table to use if required. a. Drew and Meg, ages 40 and 41, respectively, are married and file a joint return. In addition to four dependent children, they have AGI of $125,000 and itemized deductions of $27,000. AGI $125,000 Less: itemized deductions Taxable income $ b. Sybil, age 40, is single and supports her dependent parents who live with her,...

  • Kyle is single and has taxable income on his ordinary income of $35,000 before considering a...

    Kyle is single and has taxable income on his ordinary income of $35,000 before considering a long-term capital gain of $4000. His long term capital gain will be taxes at what rate? Select one: O a. 10%. O b. 0%. c. Partly at 0% and partly at 15% O d. 15%. Patricia, whose AGI is $50,000, is divorced, and maintains a home in which she and her 18-year-old daughter live. Patricia provides the majority of the support for her daughter...

  • Problem 3-28 (LO. 1) Compute 2017 taxable income in each of the following independent situations. The...

    Problem 3-28 (LO. 1) Compute 2017 taxable income in each of the following independent situations. The personal exemption amount for 2017 is $4,050. Click here to access the standard deduction table to use if required. a. Drew and Meg, ages 40 and 41, respectively, are married and fle a joint return. In addition to four dependent children, they have AGI of $65,000 and itemized deductions of $15,000. AGI Less: Less: personal and dependency exemptiones Taxable income $65,000 b. Sybil, age...

  • Leslie is a single taxpayer who is under age 65 and in good health. For 2019,...

    Leslie is a single taxpayer who is under age 65 and in good health. For 2019, she has a salary of $24,000 and itemized deductions of $1,000. Leslie allows her mother to live with her during the winter months (3–4 months per year), but her mother provides all of her own support otherwise. a. How much is Leslie’s adjusted gross income? $_________ b. What amount of itemized or standard deduction(s) should she claim? $________ c. What is the amount of...

  • Indicate whether the taxpayer would be entitled to file using the head-of-household rate schedule. Y is...

    Indicate whether the taxpayer would be entitled to file using the head-of-household rate schedule. Y is divorced from her husband. She maintains a home in which she and her 10-year-old son live. Her ex-husband pays child support to her that she used to provide all of the support for the child. In addition, Y has relinquished her right to claim her son as a dependent to her former spouse. C is divorced from his wife. He provides 75% of the...

  • Questions and Problems V. Ramon, a single taxpayer with no dependents, has adjusted gross income for...

    Questions and Problems V. Ramon, a single taxpayer with no dependents, has adjusted gross income for 2019 of $98.000 and his itemized deductions total $19.000. What taxable income will Ramon show in 2019? a. $74,950 b. $74,850 c. $79,000 (d) $85 ano LO 1.4 c. $87,650 8. Ben is a single taxpayer with no dependents and is 32 years old. What is the minimum amount of income that he must have to be required to file a tax return for...

  • MULTIPLE CHOICE PROBLEMS A sample of multiple choice Cultiple choice problems is provided below. Additional multiple...

    MULTIPLE CHOICE PROBLEMS A sample of multiple choice Cultiple choice problems is provided below. Additional multiple choice problems mailable at money-education.com by accessing the Student Practice Portal 1. Brandy is a single mom with 2 chil single mom with 2 children, Zach and Wendy. Zach is 14 years old and Wendy is 3 years old d. Brandy has AGI of $50,000. She paid the following expenses for child care thie $300 to Zach to care for Wendy so Brandy could...

  • eBock Calculo Compute 2019 taxable income in each of the following independent situations. Click here to...

    eBock Calculo Compute 2019 taxable income in each of the following independent situations. Click here to access the standard deduction table to use if required. .. Drew and Meg, ages 40 and 41, respectively, are married and file a joint return. In addition to four dependent children, they have AGI of $125,000 and itemized deductions of $27,000 125,000 Less: Kemized deductions 27,000 Taxable income 98,000 b. Sybill, age 40, is single and supports her dependent parents, who live with her....

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT