ZuoTi.Pro
Question

Time Remaining 33 minutes 35 seconds 00:33:35 Item 9 Item 9 Time Remaining 33 minutes 35...

Time Remaining 33 minutes 35 seconds 00:33:35 Item 9 Item 9 Time Remaining 33 minutes 35 seconds 00:33:35 In 2018, Laura (who files as a head of household) reported regular taxable income of $115,000. She itemized her deductions, deducting $8,000 in charitable contributions and $3,000 in state income taxes. What is Laura's alternative minimum taxable income?

Multiple Choice

  • None of the answers are correct

  • $115,000

  • $123,000

  • $126,000

  • $118,000

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

Homework Answers

Answer #1
Regular taxable income 115000
Add: State income taxes 3000
Laura's alternative minimum taxable income 118000
Option $118,000 is correct
Note: Charitable contributions is not added back for alternative minimum taxable income
0 0
Add a comment
Know the answer?
Add Answer to:
Time Remaining 33 minutes 35 seconds 00:33:35 Item 9 Item 9 Time Remaining 33 minutes 35...
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

  • Item43 2.6points Time Remaining 21 minutes 19 seconds 00:21:19 Item 43 Item 43 2.6 points Time...

    Item43 2.6points Time Remaining 21 minutes 19 seconds 00:21:19 Item 43 Item 43 2.6 points Time Remaining 21 minutes 19 seconds 00:21:19 An employee earned $62,100 during the year working for an employer. The FICA tax rate for Social Security is 6.2% of the first $128,400 of employee earnings per calendar year and the FICA tax rate for Medicare is 1.45% of all earnings. The current FUTA tax rate is 0.6%, and the SUTA tax rate is 5.4%. Both unemployment...

  • Time Remaining 55 minutes 7 seconds 00:55:07 Item 17 Item 17 Time Remaining 55 minutes 7...

    Time Remaining 55 minutes 7 seconds 00:55:07 Item 17 Item 17 Time Remaining 55 minutes 7 seconds 00:55:07 Tulsa Company, (a merchandising Co.) has the following data pertaining to the year ended December 31, 2019: (CPA adapted)    Purchases $ 620,000 Beginning inventory 204,000 Ending inventory 227,000 Freight-in 67,000 Freight-out 83,500    What is the cost of goods sold for the year? 2. Luxus, Inc. employs 42 sales personnel to market its line of luxury automobiles. The average car sells...

  • Time Remaining 2 hours 2 minutes 4 seconds 02:02:04 Item 11 Item 11 Time Remaining 2...

    Time Remaining 2 hours 2 minutes 4 seconds 02:02:04 Item 11 Item 11 Time Remaining 2 hours 2 minutes 4 seconds 02:02:04 Esplanade Outdoor Co. estimates that warranty expense will be 5% of sales. The current period's sales were $1,740,000. The entry to record the warranty expense is

  • Time Remaining 59 minutes 3 seconds 00:59:03 Return to question Item 1 Item 1 6 points...

    Time Remaining 59 minutes 3 seconds 00:59:03 Return to question Item 1 Item 1 6 points Time Remaining 59 minutes 3 seconds 00:59:03 Problem 16-19 Using net present value and internal rate of return to evaluate investment opportunities LO 16-2, 16-3 Dwight Donovan, the president of Gibson Enterprises, is considering two investment opportunities. Because of limited resources, he will be able to invest in only one of them. Project A is to purchase a machine that will enable factory automation;...

  • #31 3points Time Remaining 1 hour 15 minutes 12 seconds 01:15:12 Item 31 Item 31 3...

    #31 3points Time Remaining 1 hour 15 minutes 12 seconds 01:15:12 Item 31 Item 31 3 points Time Remaining 1 hour 15 minutes 12 seconds 01:15:12 A company's flexible budget for 15,000 units of production showed total contribution margin of $76,500 and fixed costs, $37,500. The operating income expected if the company produces and sells 18,000 units is: Multiple Choice $54,300. $98,700. $22,200. $39,000. $25,735.

  • Time Remaining 1 hour 52 minutes 25 seconds 01:52:25 Item 2 Item 2 Time Remaining 1...

    Time Remaining 1 hour 52 minutes 25 seconds 01:52:25 Item 2 Item 2 Time Remaining 1 hour 52 minutes 25 seconds 01:52:25 Wilson Company had the following cash balance items listed in its trial balance at 12/31/2021: Peterson Savings and Loan: $ 65,000 Right Bank: (12,500 ) Clinton County Trust Bank: 25,000 If Wilson reports under U.S. GAAP, its 12/31/2021 balance sheet would show what cash balance? A. -12,500 B. 77,500 C. 90,000 D. None

  • Item8 8points Time Remaining 1 hour 15 minutes 19 seconds 01:15:19 eBook Item8 Item 8 8...

    Item8 8points Time Remaining 1 hour 15 minutes 19 seconds 01:15:19 eBook Item8 Item 8 8 points Time Remaining 1 hour 15 minutes 19 seconds 01:15:19 Use the following information to calculate cash paid for income taxes: Income Tax Expense $ 62,000 Income Tax Payable, January 1 14,800 Income Tax Payable, December 31 17,800 Multiple Choice $76,800. $62,000. $79,800. $59,000. $29,400.

  • Remaining Time: 1 hour, 02 minutes, 15 seconds. * Question Completion Status: 1 26 2 27...

    Remaining Time: 1 hour, 02 minutes, 15 seconds. * Question Completion Status: 1 26 2 27 3 28 4 29 5 30 6 31 7 32 8 33 9 34 10 35 11 36 12 37 13 38 14 39 QUESTION 31 What is the body's best source of calcium? milk products protein products products high in polyunsaturated fats products containing all non-essential amino acids QUESTION 32 What enhances iron absorption? consuming soluble fiber consuming vitamin C rich foods Remaining...

  • Blackboard + → XCO Remaining Time: 46 minutes, 33 seconds. Question Completion Status: bonds. Base pairs...

    Blackboard + → XCO Remaining Time: 46 minutes, 33 seconds. Question Completion Status: bonds. Base pairs in DNA are held together by Peptide Non polar covalent Polar covalent Hydrogen Sulfhydryi QUESTION 43 The duplication of a cell's DNA is called Mitosis Replication Transcription Translation Mutation Click Save and Submit to save and submit Chok Save All Anthers to save all answers.

  • eBook Calculator Print Item Problem 6-35 (LO. 6, 9) Bonnie and Jake (ages 35 and 36,...

    eBook Calculator Print Item Problem 6-35 (LO. 6, 9) Bonnie and Jake (ages 35 and 36, respectively) are married with no dependents and live in Montana (not a community property State). Because Jake has large medical expenses, they seek your advice about filing separately to save taxes. Their income and expenses for 2019 are as follows: Bonnie's salary Jake's salary Interest income (joint) $42,500 26,000 1,500 (23,000) 8,500 Rental loss from actively managed rental property Jake's unreimbursed medical expenses All...

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