Homework Answers
- Tax on $104535
Let's assume person is individual tax payer because no information is provided.
| Taxable Income | Tax |
| 0 - $9525 @10% ($9525 * 10%) | $952.50 |
| $9526 - $38700 @12% ($29174 * 12%) | $3500.50 |
| $38701 - $82500 @ 22% ($43799 * 22%) | $9635.78 |
| $82501 - $157500 @ 24% ($104535 - $82500 = $22035) $22035 * 24% | $5288.40 |
| Total Tax | $19377.18 |
- Tax on $12900 (Qualified dividend & Capital Gain)
- As per internal revenue code for Qualified dividend & Capital Gain $0 - $38,600 there is 0 tax liability.
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Hi, it’s Shady Slim again. I just got back from my 55th birthday
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O Automatically taxed at a lower capital gains tax rate. Treated as normal dividends and taxable in the year received. O Not taxable until the fund is sold. O Not taxable until they are withdrawn from the fund. Mark for follow up Question 23 of 75. For individuals in the 10% and 15% brackets in 2018, the income from qualified dividends will be t 0 0%. O 5% O 8%. O 10%. Mark for follow up Question 24 of 75....
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What is the amount for qualified business deduction I tried $0,
$4000.00 and $$3,250
Required information [The following information applies to the questions displayed below.] John and Sandy Ferguson got married eight years ago and have a seven-year-old daughter, Samantha. In 2019, John worked as a computer technician at a local university earning a salary of $152,000, and Sandy worked part-time as a receptionist for a law firm earning a salary of $29,000. John also does some Web design work...
Need help with blank box on 11 and are the box filled out
correctly?
Abigal CAbby) Baer 4S is a sigle mother working as a dvilian accountant for the US Army. Her Social Security number is 676-73-331 1 and she lives at 3456 Alamo Way, San Antonio, TX 78249. Helen, Abby's 18-year-old daughter (Social Security number 676-73-3312), is a dependent child living with her mother, and she does not qualifty for the child tax credit due to her age but...
Please fill in this tax return.
Hi, it’s Shady Slim again. I just got back from my 55th birthday
party, and I’m told that you need some more information from me in
order to complete my tax return. I’m an open book! I’ll tell you
whatever I think you need to know.
I had to move this year after
getting my job at Roca Cola. I moved on February 3 of this year,
and I worked my job at Roca...
Form 1040 Complete Patty's Form 1040 Form Department of the Treasury-Internal Revenue Service (99) 1040 U.S. Individual Income Tax Return2018 OMB No. 1545-0074 IRS Use Only Filing status: Single Your first name and initial Patty Your standard deduction: None Your social security number 466-33-1234 Last name Banyan If joint return, spouse's first name and initial Last name Spouse's social security number Full-year health care coverage or exempt (see inst.) Spouse standard deduction: None Home address (number and street). If you...
O Automatically taxed at a lower capital gains tax rate. Treated as normal dividends and taxable in the year received. O Not taxable until the fund is sold. O Not taxable until they are withdrawn from the fund. Mark for follow up Question 23 of 75. For individuals in the 10% and 15% brackets in 2018, the income from qualified dividends will be t 0 0%. O 5% O 8%. O 10%. Mark for follow up Question 24 of 75....
Question 1 of 15. How are capital gains on Form 11208 taxed? The Scorporation will report and pay the tax when submitting their Form 11205 for the tax year. Capital gains from an Scorporation are generally not taxable because they are treated like qualified dividends. Each shareholders portion of the capital gain will be reported to them on their Schedule K-1 (Form 11205) and they will pay the tax with their Form 1040. When submitting their Schedule K-1 to the...
* More Info Capital Gains and Dividends Capital gains and losses are assigned to baskets. Five possible tax rates will apply to most capital gains and losses: • Ordinary income tax rates (up to 37% in 2018) for gains on assets held one year or less 28% rate on collectibles gains and includible Sec. 1202 gains Preferential tax rates for gains on assets held for more than one year and qualified dividends based on the taxpayer's taxable income and filing...
eBook TE Tax schedules Calculator Capital Gains and Losses (LO. 5) Jennifer is single and has the following income and expenses: Salary $76,300 Interest income 5,200 Dividend income 9,400 9,900 Long-term capital gain Short-term capital loss Deductions for AGI 14,200 3,100 14,800 Deductions from AGI The standard deduction is $12,000 for single taxpayers. Dividends and net long-term capital gains are taxed at a rate of 15%. Refer to the Tax sci the following question. Round intermediate calculations and final answers...
You are to prepare a tax
return using the following information. You will need to use Form
1040, Schedule B if applicable, you determine (Read requirements in
text). John Brown, age 53, (social security number 554-78-4556) is
single and is supporting his 18 year old son, David (social
security number 444-55-7777). David is a student at MirMonte High
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Coalinga, CA. John is employed as a engineer and received...
using the information fill out the 1040 tax form
1:9-72 George Large (SSN 000-11-1111) and his wife Marge Large (SSN 000-22-2222) live at 2000 Lakeview Drive, Cleveland, OH 49001 and want you to prepare their 2017 income tax return based on the information below: George Large worked as a salesman for Toyboat, Inc. He received a salary of $80,000 ($8,500 of federal income taxes withheld and $1,800 of state income taxes withheld) plus an expense reimbursement from Toyboat of $5,000...
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