please show work and steps thank you in 2020, Megan, a Single taxpayer, has adjusted gross...
please show work and steps thank you
in 2020, Megan, a Single taxpayer, has adjusted gross income of $92,000. Her AGI includes $2,000 of interest income. She has no dependents and does not itemize deductions. What is her 2020 federal income tax? A) $8,404 B) $10,829 C) $12,211.50 D) $13,346
Homework Answers
D. $13346
that was very intellectual question.
Answer would be option D.
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in 2020, Megan, a Single taxpayer, has adjusted gross...
22. In 2018, Rachelle, a single taxpayer, has adjusted gross income of $45,000. Her AGI includes...
22. In 2018, Rachelle, a single taxpayer, has adjusted gross income of $45,000. Her AGI includes $5,000 of interest income. Rachelle has no dependents and does not itemize deductie What is her 2018 federal income tax? A) $3,404 B) $3,769.50 C) $4,211.50 D) $4.404 tha filou?na ?s not excluded from income? rL L
In 2019, Richard, a single taxpayer, has adjusted gross income of $40,200. His AGI includes $4.000...
In 2019, Richard, a single taxpayer, has adjusted gross income of $40,200. His AGI includes $4.000 of qualified dividends. Richard does not itemize deductions. What is his 2019 federal income tax? O A. $3,166 O B. $2,686 OC. $3,286 OD. None of the above. Click to select your answer. ^ f 3 6:59 PM
9:45 Scenario 1 (Margot Margot (64) is filing as a single taxpayer. Her adjusted gross income during the year was $...
9:45 Scenario 1 (Margot Margot (64) is filing as a single taxpayer. Her adjusted gross income during the year was $32,000. This is the amount entered on her Form 1040, line 7. She will itemize deductions when she files her 2018 federal Form 1040 To seek relief for a medical condition, Margot traveled to a clinic in another state during the year. She incurred the following trip-related expenses: $75 for a room in a hotel near the clinic (one night)....
Questions and Problems V. Ramon, a single taxpayer with no dependents, has adjusted gross income for...
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Jordan Johnson is single and has adjusted gross income of $50,000 in the current year. Additional...
Jordan Johnson is single and has adjusted gross income of $50,000 in the current year. Additional information is as follows: State income taxes paid $ 2,000 Mortgage interest on her personal residence 9,000 Points paid on purchase of her personal residence 1,000 Deductible contributions to her IRA 3,000 Uninsured realized casualty loss (in a Federal disaster area) 6,000 Tax preparation fees for her prior year income tax return 400 What amount may Jordan claim as itemized deductions on her current-year...
Please bold answer in explanation thank you Emily, who is single, has been offered a position...
Please bold answer in explanation thank you
Emily, who is single, has been offered a position as a city landscape consultant. The position pays $150,200 in cash wages. Assume Emily has no dependents. Emily deducts the standard deduction instead of itemized deductions, and she is not eligible for the qualified business income deduction. (Use the tax rate schedules.) (Round your intermediate calculations and final answer to the nearest whole dollar amount.) Problem 4-31 Part-a (Algo) a. What is the amount...
Molly Whitman is a single taxpayer under the age of 65 and has adjusted gross income...
Molly Whitman is a single taxpayer under the age of 65 and has adjusted gross income (AGI) in 2019 equal to $215,000. She reported the following financial information pertaining to her 2019 activities: a) Molly incurs $6,800 of qualified medical expenses in 2019. b) Molly's state income tax withholdings for 2019 equal $6,100. c) In 2019, Molly was due a refund of $725 for overpaying her 2018 state taxes. She elected to have this overpayment applied toward her 2019 state...
Quantitative Problem: Jenna is a single taxpayer with no dependents so she qualifies for one personal...
Quantitative Problem: Jenna is a single taxpayer with no dependents so she qualifies for one personal exemption. During 2013, she earned wages of $101,000. She doesn't itemize deductions, so she will take the standard deduction and her personal exemption to calculate 2013 taxable income. In addition, during the year she sold common stock that she had owned for five years for a net profit of $5,800. How much does Jenna owe to the IRS for taxes? Round your intermediated and...
Victoria, age 66, is an unmarried, cash basis, calendar year taxpayer with no dependents. Victoria has...
Victoria, age 66, is an unmarried, cash basis, calendar year taxpayer with no dependents. Victoria has the following income and deductions for 2019: RECEIPTS FOR YEAR Salary from local school district $ 63,000 Interest from Friendly Bank 1,235 Interest from City of Santee bonds 1,100 Dividends from Tandem Diabetic (qualified) 375 Loss from sale of Tandem Diabetic held 36 months - 3,200 EXPENDITURES FOR YEAR Itemized deductions $ 13,200 Calculate Victoria’s adjusted gross income, taxable income, and federal income tax....
please show work Through November, Cameron has received gross income of $120,000. For December, Cameron is...
please show work
Through November, Cameron has received gross income of $120,000. For December, Cameron is considering whether to accept one more work engagement for the year. Engagement 1 will generate $7,000 of revenue at a cost to Cameron of $3,000, which is deductible for AGI. In contrast, engagement 2 will generate $5,000 of qualified business income (QBI). which is eligible for the 20% QBI deduction Cameron files as a single taxpayer. Calculate Cameron's taxable income assuming he chooses engagement...
22. In 2018, Rachelle, a single taxpayer, has adjusted gross income of $45,000. Her AGI includes $5,000 of interest income. Rachelle has no dependents and does not itemize deductie What is her 2018 federal income tax? A) $3,404 B) $3,769.50 C) $4,211.50 D) $4.404 tha filou?na ?s not excluded from income? rL L
In 2019, Richard, a single taxpayer, has adjusted gross income of $40,200. His AGI includes $4.000 of qualified dividends. Richard does not itemize deductions. What is his 2019 federal income tax? O A. $3,166 O B. $2,686 OC. $3,286 OD. None of the above. Click to select your answer. ^ f 3 6:59 PM
9:45 Scenario 1 (Margot Margot (64) is filing as a single taxpayer. Her adjusted gross income during the year was $32,000. This is the amount entered on her Form 1040, line 7. She will itemize deductions when she files her 2018 federal Form 1040 To seek relief for a medical condition, Margot traveled to a clinic in another state during the year. She incurred the following trip-related expenses: $75 for a room in a hotel near the clinic (one night)....
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...
Please bold answer in explanation thank you
Emily, who is single, has been offered a position as a city landscape consultant. The position pays $150,200 in cash wages. Assume Emily has no dependents. Emily deducts the standard deduction instead of itemized deductions, and she is not eligible for the qualified business income deduction. (Use the tax rate schedules.) (Round your intermediate calculations and final answer to the nearest whole dollar amount.) Problem 4-31 Part-a (Algo) a. What is the amount...
please show work
Through November, Cameron has received gross income of $120,000. For December, Cameron is considering whether to accept one more work engagement for the year. Engagement 1 will generate $7,000 of revenue at a cost to Cameron of $3,000, which is deductible for AGI. In contrast, engagement 2 will generate $5,000 of qualified business income (QBI). which is eligible for the 20% QBI deduction Cameron files as a single taxpayer. Calculate Cameron's taxable income assuming he chooses engagement...
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