MARRIED TAXPAYER PENSION INCOME IS 30000
SOCIAL SECURITY INCOME 10000
MUNICIPAL INTEREST 1000
Year 2018
what is the AGI?
Calculation of adjusted gross income
Add:-
Married taxpayer pension income 30000
Social security income 10000
Deduct :-
Municipal interest (1000)
Adjusted gross income 39000
While calculation we assumed municipal income is raised from the same state where the income gainer live hence it was deducted as deduction from total adjusted gross income
MARRIED TAXPAYER PENSION INCOME IS 30000 SOCIAL SECURITY INCOME 10000 MUNICIPAL INTEREST 1000 Year 2018 what...
Isabelle, a single, retired taxpayer with income from interest, a pension, and social security, and using the standard deduction, was required to file 1040A last year. If nothing has changed for Isabelle, for 2018 she will file:
Isabelle, a single, retired taxpayer with income from interest, a pension, and social security, and using the standard deduction, was required to file form 1040A last year. If nothing changed for Isabelle, for 2018 she will file:
Isabelle, a single, retired taxpayer with income from interest, a pension, and social security, and using the standard deduction, was required to file 1040A last year. If nothing has changed for Isabelle, for 2018 she will file:
Harold, a single taxpayer, has 30000 of ordinary income after the standard deduction, and 10000 in long term capital gains, for total taxable income of 40000. For 2019, single taxpayers pay 0 percent on long term gains up to 39375. Assuming a tax of 3409 on the 30000 of ordinary income, what is harold's tax?
Mrs. Small had the following items of financial support this year. Social Security benefits $13,670 Pension from her former employer 10,800 Cash gifts from her grandchildren 12,000 If Ms. Small pension was 48,000 instead of 10,800. What will be the amount of social security included in her AGI? What is her total AGI? Mrs. Small had the following items of financial support this year. Social Security benefits $13,670 Pension from her former employer 48,000 Cash gifts from her grandchildren 12,000...
Erin receives Social security income. she is married filing a joint return for the tax year. what base amount does she apply in calculating the taxable portion of social security income under rule 1?
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Linda, who filed as a single taxpayer in 2019, received $180,000 in social security benefits. Linda's AGI of $38,000 before any social security benefits was a taxable distribution from a retirement plan. Linda also received $500 of tax-exempt interest. What amount of Linda's social security benefit is taxable in 2019?
Ervine received Social Security benefits during the current year of $15,400. Ivette’s only other sources of income were wages of $16,000, interest income from corporate bonds of $4,000, and taxable domestic dividends of 1,100. Ervine is single, 72-years of age, and has no dependents. A) Calculate Ervine AGI B) What would be Ervine AGI if Ervine also had tax-free municipal bond interest income of $9,600
Figuring out taxable social security benefits. Jon has $16,710 in taxable pension income, as well as $27,303 in social security benefits for the year 2018. What amount of his social security benefit is taxable on his federal income tax return? I attempted to answer this on my own and found: Taxable amount= one-half the difference between the adjusted base amount and the base amount of the tax payer. Jon's base amount = $25,000 Adjusted base amount = the lessor of...