Question

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 to view (Click the icon to view the 2017 tax rate schedule for the Single filing status.) schedule for the Married filing separate filing status.) i Requirements What filing status applies to Kristi? Compute her taxable income and gross tax. a. b. G. Assume that Kristi does not have a daughter. What is Kristis filing status? nt Print Done t (?
And Krisit’s filing status would be single because?
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Answer

A ) Qualifying window

B ) 340,000 - 24,000 (itemized deductions) - 6000 (2 exemptions) = 310,000 taxable income; tax = 80081 (310000 x 0.33 - 22219)

310000 : 80081

C) single

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