Homework Answers
1. Answer b - 15%
According to Married Filing Jointly below is the 2019 long-term capital gains tax brackets.
| Capotal Gain Tax Rate | Your Income |
| 0% | $0 to $78,750 |
| 15% | $78,751 to $488,850 |
| 20% | $488,850 or more |
2. Answer d - $51022
Wages+Interest+FMV
50000+1000+22
51022
Add Answer to:
The capital gain rate for a couple filing MFJ with taxable income of $79,000 is! 30...
Jerome, who files as head of household, received the following income: Wages (box 1 of Form...
Jerome, who files as head of household, received the following income: Wages (box 1 of Form W-2) $50,000 Interest income 1,000 Christmas ham (FMV) 22 DCB, box 10 of Form W-2 2,000 (Spent $1,500 for childcare) How much gross income must Jerome report?
43 Nevada is single and provides a home for his girlfriend, Lois, and her 5 year...
43 Nevada is single and provides a home for his girlfriend, Lois, and her 5 year old daughter Corky. Lois worked in a bakery and earned $3,800. She has no other income. Lois and Corky lived all year with Nevada and he provided all of their support. What is Nevada's filing status? Marks: 1 Choose one answer O a Single b. Head of Household c. Married Filing Separate Married fling Joint O d Jerome, who files as head of household,...
43 Nevada is single and provides a home for his girlfriend, Lois, and her 5 year...
43 Nevada is single and provides a home for his girlfriend, Lois, and her 5 year old daughter Corky. Lois worked in a bakery and earned $3,800. She has no other income. Lois and Corky lived all year with Nevada and he provided all of their support. What is Nevada's filing status? Marks: 1 Choose one answer O a Single b. Head of Household c. Married Filing Separate Married fling Joint O d Jerome, who files as head of household,...
A married couple filing jointly with a taxable income of $295,000 and a $6000 tax credit...
A married couple filing jointly with a taxable income of
$295,000 and a $6000 tax credit
The tax code is
mathxl.com mat142 26758 Test: Module 6A Test This Question: 1 pt 9 of 20 (17 complete) Use the 2016 marginal tax rates to compute the tax owed by the following couple. A married couple filing jointly with a taxable income of $295,000 and a $6000 tax credit Click the icon to view the 2016 marginal tax rates. The tax owed...
1.) Roy(39) is a US citizen. He was married at the beginning of 2019. His wife...
1.) Roy(39) is a US citizen. He was married at the beginning of
2019. His wife lived in the household until august. Their divorce
was finalized on Sept 30, and roy has not remarried. Roy provided
100% of support for his son, who lived with him all year and is his
qualifying child. Roy's most advantageous filling status is?
A. Head of household.
B. Married filing seperate
C. Married filling joint
D. Single.
Question 56 of 75. Carlie (28) is...
Tax Prep 1 (Tax course 101 Final) Back . < $250 000 d. None of these...
Tax Prep 1 (Tax course 101 Final) Back . < $250 000 d. None of these Marks 1 John is a single taxpayer His taxable income on Form 1040, line 10 is $21,810 John will use which method to figure the tax on his taxable income Choose one answer a Tax table Tax rate schedule Percentage od Tax calculation works O O d Glenn's AG $34 500 He had $4,222 in medical and dental expenses. How much can he deduct...
Comprehensive Income Tax Course: Module 1 4. Randy turned 16 last year and had his first...
Comprehensive Income Tax Course: Module 1 4. Randy turned 16 last year and had his first summer job. Even though his parents are claiming him as a dependent he wants to file a return in order to get his refund. He receives his W-2 and decides he can do his own return using form 1040-EZ. Which of the following information is not found on a Form W-2? a) The taxpayer’s Social Security number b) The taxpayer’s wages, tips and other...
Super stuck on a couple of questions on this scenario. Advanced Scenario 7: Mark and Barbara...
Super stuck on a couple of questions on this scenario.
Advanced Scenario 7: Mark and Barbara Matthews Directions Using the tax software, complete the tax retum, including Form 1040 and all appropri- ate forms, schedules, or worksheets. Answer the questions following the scenario. Note: When entering Social Security numbers (SSNS) or Employer identification Numbers (EINS), replace the Xs as directed, or with any four digits of your choice. Interview Notes • Mark and Barbara are married and want to file...
23. What is the total net amount of capital gain reported on Form 1040? OA. $308...
23. What is the total net amount of capital gain reported on
Form 1040? OA. $308 OB. $2,411 C. $2,719 OD. $2,900
Advanced Scenario 7: Mark and Barbara Matthews Directions Using the tax software, complete the tax return, including Form 1040 and all appropri- ate forms, schedules, or worksheets. Answer the questions following the scenario. Note: When entering Social Security numbers (SSNs) or Employer Identification Numbers (EINS), replace the Xs as directed, or with any four digits of your choice....
Comprehensive Problem 5-2A Bea Jones (birthdate March 27, 1984) moved from Texas to Florida in December...
Comprehensive Problem 5-2A Bea Jones (birthdate March 27, 1984) moved from Texas to Florida in December 2017. She lives at 654 Ocean Way, Gulfport, FL 33707. Bea's Social Security number is 466-78-7359 and she is single. Her earnings and income tax withholding for 2018 for her job as a manager at a Florida shrimp-processing plant are: Earnings from the Gulf Shrimp Co. $43,200 4,600 Federal income tax withheld State income tax withheld Bea's other income includes interest on a savings...
43 Nevada is single and provides a home for his girlfriend, Lois, and her 5 year old daughter Corky. Lois worked in a bakery and earned $3,800. She has no other income. Lois and Corky lived all year with Nevada and he provided all of their support. What is Nevada's filing status? Marks: 1 Choose one answer O a Single b. Head of Household c. Married Filing Separate Married fling Joint O d Jerome, who files as head of household,...
43 Nevada is single and provides a home for his girlfriend, Lois, and her 5 year old daughter Corky. Lois worked in a bakery and earned $3,800. She has no other income. Lois and Corky lived all year with Nevada and he provided all of their support. What is Nevada's filing status? Marks: 1 Choose one answer O a Single b. Head of Household c. Married Filing Separate Married fling Joint O d Jerome, who files as head of household,...
A married couple filing jointly with a taxable income of
$295,000 and a $6000 tax credit
The tax code is
mathxl.com mat142 26758 Test: Module 6A Test This Question: 1 pt 9 of 20 (17 complete) Use the 2016 marginal tax rates to compute the tax owed by the following couple. A married couple filing jointly with a taxable income of $295,000 and a $6000 tax credit Click the icon to view the 2016 marginal tax rates. The tax owed...
1.) Roy(39) is a US citizen. He was married at the beginning of
2019. His wife lived in the household until august. Their divorce
was finalized on Sept 30, and roy has not remarried. Roy provided
100% of support for his son, who lived with him all year and is his
qualifying child. Roy's most advantageous filling status is?
A. Head of household.
B. Married filing seperate
C. Married filling joint
D. Single.
Question 56 of 75. Carlie (28) is...
Tax Prep 1 (Tax course 101 Final) Back . < $250 000 d. None of these Marks 1 John is a single taxpayer His taxable income on Form 1040, line 10 is $21,810 John will use which method to figure the tax on his taxable income Choose one answer a Tax table Tax rate schedule Percentage od Tax calculation works O O d Glenn's AG $34 500 He had $4,222 in medical and dental expenses. How much can he deduct...
Super stuck on a couple of questions on this scenario.
Advanced Scenario 7: Mark and Barbara Matthews Directions Using the tax software, complete the tax retum, including Form 1040 and all appropri- ate forms, schedules, or worksheets. Answer the questions following the scenario. Note: When entering Social Security numbers (SSNS) or Employer identification Numbers (EINS), replace the Xs as directed, or with any four digits of your choice. Interview Notes • Mark and Barbara are married and want to file...
23. What is the total net amount of capital gain reported on
Form 1040? OA. $308 OB. $2,411 C. $2,719 OD. $2,900
Advanced Scenario 7: Mark and Barbara Matthews Directions Using the tax software, complete the tax return, including Form 1040 and all appropri- ate forms, schedules, or worksheets. Answer the questions following the scenario. Note: When entering Social Security numbers (SSNs) or Employer Identification Numbers (EINS), replace the Xs as directed, or with any four digits of your choice....
Comprehensive Problem 5-2A Bea Jones (birthdate March 27, 1984) moved from Texas to Florida in December 2017. She lives at 654 Ocean Way, Gulfport, FL 33707. Bea's Social Security number is 466-78-7359 and she is single. Her earnings and income tax withholding for 2018 for her job as a manager at a Florida shrimp-processing plant are: Earnings from the Gulf Shrimp Co. $43,200 4,600 Federal income tax withheld State income tax withheld Bea's other income includes interest on a savings...
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