john, who is single, 28 years old, and not claimed as a dependent on anyone elses return, earns $9,000 during 2017. he...
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john, who is single, 28 years old, and not claimed as a dependent on anyone elses return, earns $9,000 during 2017. he...
In 2018 Zach is single with no dependents. He is not claimed as a dependent on another's return. ...
In 2018 Zach is single with no dependents. He is not claimed as a dependent on another's return. All of his income is for salary and he does not have any FOR AGI deductions. What is his earned income credit zach is 29 years old and his AGI is $4000
Henry, age 70 and single, is claimed as a dependent on his daughter's tax return. During...
Henry, age 70 and single, is claimed as a dependent on his daughter's tax return. During 2017, he had interest income of $4,000 and $800 of earned income from consulting. Henry's taxable income is: a.$1,400. b.$1,300. c.$2,100. d.$0. e.None of these choices are correct. Feedback Incorrect. $4,000 gross income – greater of $1,050 or ($800 earned income + $350) – $1,550 (additional standard deduction for age 65 and older) = $1,300. Why is Henry's gross income only 4000? Why is...
X is an unmarried dependent child who works part-time. During 2018, he earns $4,800 and has...
X is an unmarried dependent child who works part-time. During 2018, he earns $4,800 and has no other income. Must he file a return? Answer: No. He had earned income only, and his gross income is less than his standard deduction of $6,500. However, if income taxes were withheld from his earnings, he'd want to file a return to get a refund of any income taxes withheld. Please explain where they got the number.
Which of the following individuals qualifies as a dependent of John Smith? A 20-year-old son who...
Which of the following individuals qualifies as a dependent of John Smith? A 20-year-old son who earned $4,900 during the Christmas season but was unemployed the remainder of the year. He was supported by John Smith A 10-year-old cousin living with John Smith’s parents but supported by John Smith A seven-year-old orphan (not adopted by John Smith) who has lived in his home the entire year and has been supported by him A 25-year-old married daughter who filed a joint...
dependent chadren thond in the preparation of her tax return for 2018, loan should the an...
dependent chadren thond in the preparation of her tax return for 2018, loan should the an A single individual Aquing widower) .. Head of household d. Married in wately e. None of the above 10. Glenda de tape from Kanpaid for more than one-half of the support for her mother, Doroth Detohy did not live with Glenda in Kansas but rather has red in a nursing home in an adjacent statene Dorothy husband died the years Glendas ng should be...
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...
EXHIBIT 8-10 2019 Earned Income Credit Table Qualifying Children (1) Maximum Earned Income Eligible for Credit...
EXHIBIT 8-10 2019 Earned Income Credit
Table
Qualifying Children
(1)
Maximum Earned Income Eligible for Credit
(2)
Credit %
(3)
Maximum Credit
(1) × (2)
(4)
Credit Phase- Out for AGI (or earned income if greater) Over This
Amount
(5)
Phase-Out Percentage
No Credit When AGI (or earned income if
greater) Equals or Exceeds This Amount (4) +
[(3)/(5)]
Married taxpayers filing joint
returns
0
$ 6,920
7.65%
$ 529
$14,450
7.65%
$21,370
1
10,370
34
3,526
24,820
15.98...
Markt Ashley is single and lives with Barney, her boyfriend, and Candy, his 8-year-old daughter Ashley...
Markt Ashley is single and lives with Barney, her boyfriend, and Candy, his 8-year-old daughter Ashley paid all of the support for her household in 2018 Barney has earned income of $2.500 and had income tax withheld from his wages. He has no other income and is not required to file an income tax return. With one qualifying child. Bamey may claim an earned income credit Barney files an income tax return solely to obtain a refund of withheld income...
Ashley is single and lives with Barney, her boyfriend, and Candy, his 8 year old daughter....
Ashley is single and lives with Barney, her boyfriend, and Candy, his 8 year old daughter. Ashley paid all of the support for her household in 2018. Barney has earned income of $2,500 and had income tax withheld form his wages. He has no other income and is not required to file an income tax return. with one qualifying child, Barney may claim an earn income credit. Barney files an income tax return solely to obtain a refund of withheld...
Problem 1 Charlie and Samantha are resident aliens, married, and want to file a joint return....
Problem 1 Charlie and Samantha are resident aliens, married, and want to file a joint return. They have three children. Harry is 8 years old and a resident alien. Sherry is 3 years old and Marie is 1 year old and both are US citizens. All three children lived with their parents in the US all year. Charlie, Samantha, and Harry have ITINs. Sherry and Maria have Social Security numbers. Charlie earned $38000 in wages and Samantha earned $11000 in...
dependent chadren thond in the preparation of her tax return for 2018, loan should the an A single individual Aquing widower) .. Head of household d. Married in wately e. None of the above 10. Glenda de tape from Kanpaid for more than one-half of the support for her mother, Doroth Detohy did not live with Glenda in Kansas but rather has red in a nursing home in an adjacent statene Dorothy husband died the years Glendas ng should be...
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...
EXHIBIT 8-10 2019 Earned Income Credit
Table
Qualifying Children
(1)
Maximum Earned Income Eligible for Credit
(2)
Credit %
(3)
Maximum Credit
(1) × (2)
(4)
Credit Phase- Out for AGI (or earned income if greater) Over This
Amount
(5)
Phase-Out Percentage
No Credit When AGI (or earned income if
greater) Equals or Exceeds This Amount (4) +
[(3)/(5)]
Married taxpayers filing joint
returns
0
$ 6,920
7.65%
$ 529
$14,450
7.65%
$21,370
1
10,370
34
3,526
24,820
15.98...
Markt Ashley is single and lives with Barney, her boyfriend, and Candy, his 8-year-old daughter Ashley paid all of the support for her household in 2018 Barney has earned income of $2.500 and had income tax withheld from his wages. He has no other income and is not required to file an income tax return. With one qualifying child. Bamey may claim an earned income credit Barney files an income tax return solely to obtain a refund of withheld income...
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