Homework Answers
Answer is d. Head of household
Explanation:
If husband died and maintains a household in which her dependent mother lives, then Head of household is her filing status for the next year. Provided, she herself is the executor of the husband's estate.
So that,
Head of household is harpreet's filing status for the tax year 2019.
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d. Married filing separately e. None of these 8. Harpreet, whose husband died in e husband died in December 2018, m...
And Krisit’s filing status would be single because? Kristi is a wealthy widow whose husband died...
And Krisit’s filing status would be single because?
Kristi is a wealthy widow whose husband died last year. Her dependent daughter lives with her for the entire year. Kristi has interest income totaling $340,000 and she pays property taxes and home mortgage interest totaling $24,000 (Click the icon to view the standard deduction and personal and dependency exemption amounts.) (Click the icon to view the 2017 tax rate schedule for the Married filing jointly/Surviving spouse filing status.) Click the icon...
Gail is a wealthy widow whose husband died last year. Her dependent daughter lives with her...
Gail is a wealthy widow whose husband died last year. Her dependent daughter lives with her for the entire year. Gail has interest income totaling $ 245,000 and she pays property taxes and home mortgage interest totaling $ 30,000. Requirement a. What filing status applies to GailGail? GailGail meets the requirements of a surviving spouse. Thus, she will use the married filing joint/surviving spouse rate schedule. Requirement b. Compute her taxable income and gross tax. Begin by computing GailGail's taxable...
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...
personal income tax need to know the taxable income Problem 3-25 (c) (LO. 1, 8) The...
personal income tax
need to know the taxable income
Problem 3-25 (c) (LO. 1, 8) The following information applies to Caroline, who is single, for 2019: $44,350 Salary Alimony received (pre-2019 divorce decree) Child support received 9,600 4,800 15,000 Cash inheritance from her mother's estate Jury duty fees 75 Penalty for early withdrawal from savings (630) 50,000 Life insurance proceeds received as a result of the death of her Contributions to Health Savings Account (Caroline has a high deductible health...
Filing 2015 Marginal Tax Rates Married Married Head of Single Filing Filing Household Jointly Separately Status...
Filing 2015 Marginal Tax Rates Married Married Head of Single Filing Filing Household Jointly Separately Status Tax Rate Income Brackets 10% 0—13,150 15% 0–9,225 18 450 0–9,225 9.226— 18,451– 9,226 37,450 74,900 37,450 37,451–74,901—37,451— 90,750 151,200 75,600 13,151— 50,200 50,201— 129,600 25% 90,7514 151,201 129,601— 209.850 75,601- 28% 189,300 230,450 115,225 189,301 230,451 115,226— 33% 411,500 411,500 205,750 411,501 411,501 205,751- 35% 413,200 464,850 232,425 ||39.6% 413,201+ 464,851+ 232,426+ 209,851- 411,500 411,501- 439,000 439,001+ Use the marginal tax rates to...
Jasmine and her husband. Arty, have been married for 25 years. In May of this year,...
Jasmine and her husband. Arty, have been married for 25 years. In May of this year, the couple divorced. During the year, Jasmine provided all the support for herself and her 22-year-old child Dexter, who lived in the same home as Jasmine for the entire year. Dexter is employed full time. earning $29.000 this year. What is Jasmine's most favorable filing status for the year? 16:44 Multiple Choice Surviving spouse. Married filing separately. Head of household. Single. of 20TH Next...
Brenda is married to Roger, who abandoned her in early June of 2018. She has not...
Brenda is married to Roger, who abandoned her in early June of 2018. She has not seen or communicated with him since then. She maintains a household in which she and her two dependent children live. Which of the following statements about Brenda’s filing status in 2018 is correct? Brenda can use the rates for single taxpayers. Brenda can file a joint return with Chad. Brenda can file as a surviving spouse. Brenda can file as a head of household....
Objective Short Answer Individual ("1"), a single 29 year-old individual, U.S. citizen, not a dependent of...
Objective Short Answer Individual ("1"), a single 29 year-old individual, U.S. citizen, not a dependent of anyone else, earned $6,000 of wage income and $50,000 of net long-term capital gain recognized in 2019. What is I's Taxable income for 20192 AND What is I's Tax Due in 2019 (excluding any payroll tax (FICA, FUTA et.... 2019 Tax Rate Schedule for Taxpayers (Exhibit 3.9 in textbook) If Taxable income is: Over The Taxis 10% so $9,700 $39,475 $84,200 $ 160,725 $204,100...
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....
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...
And Krisit’s filing status would be single because?
Kristi is a wealthy widow whose husband died last year. Her dependent daughter lives with her for the entire year. Kristi has interest income totaling $340,000 and she pays property taxes and home mortgage interest totaling $24,000 (Click the icon to view the standard deduction and personal and dependency exemption amounts.) (Click the icon to view the 2017 tax rate schedule for the Married filing jointly/Surviving spouse filing status.) Click the icon...
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...
personal income tax
need to know the taxable income
Problem 3-25 (c) (LO. 1, 8) The following information applies to Caroline, who is single, for 2019: $44,350 Salary Alimony received (pre-2019 divorce decree) Child support received 9,600 4,800 15,000 Cash inheritance from her mother's estate Jury duty fees 75 Penalty for early withdrawal from savings (630) 50,000 Life insurance proceeds received as a result of the death of her Contributions to Health Savings Account (Caroline has a high deductible health...
Filing 2015 Marginal Tax Rates Married Married Head of Single Filing Filing Household Jointly Separately Status Tax Rate Income Brackets 10% 0—13,150 15% 0–9,225 18 450 0–9,225 9.226— 18,451– 9,226 37,450 74,900 37,450 37,451–74,901—37,451— 90,750 151,200 75,600 13,151— 50,200 50,201— 129,600 25% 90,7514 151,201 129,601— 209.850 75,601- 28% 189,300 230,450 115,225 189,301 230,451 115,226— 33% 411,500 411,500 205,750 411,501 411,501 205,751- 35% 413,200 464,850 232,425 ||39.6% 413,201+ 464,851+ 232,426+ 209,851- 411,500 411,501- 439,000 439,001+ Use the marginal tax rates to...
Jasmine and her husband. Arty, have been married for 25 years. In May of this year, the couple divorced. During the year, Jasmine provided all the support for herself and her 22-year-old child Dexter, who lived in the same home as Jasmine for the entire year. Dexter is employed full time. earning $29.000 this year. What is Jasmine's most favorable filing status for the year? 16:44 Multiple Choice Surviving spouse. Married filing separately. Head of household. Single. of 20TH Next...
Objective Short Answer Individual ("1"), a single 29 year-old individual, U.S. citizen, not a dependent of anyone else, earned $6,000 of wage income and $50,000 of net long-term capital gain recognized in 2019. What is I's Taxable income for 20192 AND What is I's Tax Due in 2019 (excluding any payroll tax (FICA, FUTA et.... 2019 Tax Rate Schedule for Taxpayers (Exhibit 3.9 in textbook) If Taxable income is: Over The Taxis 10% so $9,700 $39,475 $84,200 $ 160,725 $204,100...
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....
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...
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