34. Ramon has been assigned an Identity Protection PIN by the IRS. How does this affect...
34. Ramon has been assigned an Identity Protection PIN by the IRS. How does this affect preparation of Ramon’s tax return? a. The PIN must be entered during tax return preparation. b. The PIN will appear on Ramon’s Form 1040. c. Failure to enter the PIN will delay processing of Ramon’s tax return. d. All of the above
Homework Answers
Ans D
All of the above
Reason:-
PIN is used to avoid misuse of the social security number.
Choice A is correct, The PIN must be entered during tax return preparation.
Choice B is correct because PIN will appear Form1040.
Choice C is correct, inputting PIN will increase the processing time of return.
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34. Ramon has been assigned an Identity Protection PIN by the IRS. How does this affect...
28. The only income Ramon needs to report on his Schedule C is his income from...
28. The only income Ramon needs to report on his Schedule C is his income from Form 1099 K. Payment Card and Third Party Network Transactions True False S et Seed Ouestionley Sweet 29 Ramon's mileage expense deduction at the standard mileage rate) for his business as a ride share driver (rounded to the nearest dollar) is $17.516. True False Back Next Skip First Skipped Question Next Skipped Question 30. What is the amount of Ramon's student loan interest deduction...
Ramon did not have health insurance in 2019 how does that affect his return? A. he...
Ramon did not have health insurance in 2019 how does that affect his return? A. he must pay a $695 Shared responsibility payment B. it has no effect on his form 1040 the full year health care coverage or exempt box is eliminated from form 1040 because the shared responsibility payment is reduced to zero for tax year 2019. c. Ramon can claim a short coverage gap exemption to avoid the shared responsibility payment. d. Ramon can claim the affordability...
PLEASE SHOW WORK ASAP Margaret O'Hara has been divorced for about two years. She is 28...
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Margaret O'Hara has been divorced for about two years. She is 28 years old, and her address is 979 Adams Street, Jacksonville, FL 32202. Additional information about Ms. O'Hara is as follows: Social security number: 412-34-5670 Date of birth: 6/17/1990 Alimony received- $24,000.00 W-2 for Margaret shows these amounts: Wages (box 1)-$38,000.00 Federal W/H (box 2)-$ 7,820.00 Social security wages (box 3)-$38,000.00 Social security W/H (box 4) 2,356.00 Medicare wages (box 5)-$38,000.00 Medicare W/H (box 6)-...
Marc and Michelle are married and earned salaries this year of $74,000 and $15,750, respectively. In...
Marc and Michelle are married and earned salaries this year of
$74,000 and $15,750, respectively. In addition to their salaries,
they received interest of $350 from municipal bonds and $1,750 from
corporate bonds. Marc contributed $3,750 to an individual
retirement account, and Marc paid alimony to a prior spouse in the
amount of $2,750. Marc and Michelle have a 10-year-old son,
Matthew, who lived with them throughout the entire year. Thus, Marc
and Michelle are allowed to claim a $2,000...
PLEASE SHOW WORK ASAP PLEASE SHOW WORK ASAP Award: 33.33 points Jose and Dora Hemandez are...
PLEASE SHOW WORK
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Award: 33.33 points Jose and Dora Hemandez are married filing jointly. They are 50 and 45 years old, respectively. Their address is 32010 Lake Street, Atlanta, GA 30294. Additional information about Mr. and Mrs. Hemandez is as follows: Social security numbers: Jose: 412-34-5670 Date of birth: 4/23/1968 W-2 for Jose shows these amounts Dora: 412-34-5671 Date of birth: 7/12/1973 W-2 for Dora shows these amounts: wages (box 1) = $45,800.00 Federal W/H...
Very lost on the whole business side of doing taxes, could use some help. Advanced Scenario...
Very lost on the whole business side of doing taxes, could use
some help.
Advanced Scenario 8: Ramon Torrez 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. For the purpose of these scenario questions only, ignore the...
You are to prepare a tax return using the following information. You will need to use...
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
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single and is supporting his 18 year old son, David (social
security number 444-55-7777). David is a student at MirMonte High
School. They live in a rented home at 1245 West 5Th Street,
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Required information (The following information applies to the questions displayed below.) Marc and Michelle are married...
Required information (The following information applies to the questions displayed below.) Marc and Michelle are married and earned salaries this year of $64,000 and $12,000, respectively. In addition to their salaries, they received interest of $350 from municipal bonds and $500 from corporate bonds. Marc contributed $2,500 to an individual retirement account, and Marc paid alimony to a prior spouse in the amount of $1,500 (under a divorce decree effective June 1, 2005). Marc and Michelle have a 10-year-old son,...
John and Sarah are married and earned salaries this year of $64,000 and $12,000, respectively. In...
John and Sarah are married and earned salaries this year of
$64,000 and $12,000, respectively. In addition to their salaries,
they received interest of $350 from municipal bonds and $500 from
corporate bonds. John contributed $2,500 to an individual
retirement account, and John paid alimony to a prior spouse in the
amount of $1,500 (under a divorce decree effective June 1, 2005).
John and Sarah have a 10-year-old son, Michael, who lived with them
throughout the entire year. Thus, John...
Please help me with this question!!! I need all the schedule fill it out and I don’t know how to ...
please help me with this question!!! I need all the schedule
fill it out and I don’t know how to do it; please help me !
Help Save& Exit Submit Check my work During 2018, Jason and Vicki Hurting, who are married with two children and fling jointly, had the following tak information Jason landscaping business, and Vicki works as a sales executive for a manufacturing business Jason (SSN 412-34-5670) and Vicki (SSN 412-34-5671) reside at 123 Bate Street, Bright,...
28. The only income Ramon needs to report on his Schedule C is his income from Form 1099 K. Payment Card and Third Party Network Transactions True False S et Seed Ouestionley Sweet 29 Ramon's mileage expense deduction at the standard mileage rate) for his business as a ride share driver (rounded to the nearest dollar) is $17.516. True False Back Next Skip First Skipped Question Next Skipped Question 30. What is the amount of Ramon's student loan interest deduction...
PLEASE SHOW WORK
ASAP
Margaret O'Hara has been divorced for about two years. She is 28 years old, and her address is 979 Adams Street, Jacksonville, FL 32202. Additional information about Ms. O'Hara is as follows: Social security number: 412-34-5670 Date of birth: 6/17/1990 Alimony received- $24,000.00 W-2 for Margaret shows these amounts: Wages (box 1)-$38,000.00 Federal W/H (box 2)-$ 7,820.00 Social security wages (box 3)-$38,000.00 Social security W/H (box 4) 2,356.00 Medicare wages (box 5)-$38,000.00 Medicare W/H (box 6)-...
Marc and Michelle are married and earned salaries this year of
$74,000 and $15,750, respectively. In addition to their salaries,
they received interest of $350 from municipal bonds and $1,750 from
corporate bonds. Marc contributed $3,750 to an individual
retirement account, and Marc paid alimony to a prior spouse in the
amount of $2,750. Marc and Michelle have a 10-year-old son,
Matthew, who lived with them throughout the entire year. Thus, Marc
and Michelle are allowed to claim a $2,000...
PLEASE SHOW WORK
ASAP
PLEASE SHOW WORK
ASAP
Award: 33.33 points Jose and Dora Hemandez are married filing jointly. They are 50 and 45 years old, respectively. Their address is 32010 Lake Street, Atlanta, GA 30294. Additional information about Mr. and Mrs. Hemandez is as follows: Social security numbers: Jose: 412-34-5670 Date of birth: 4/23/1968 W-2 for Jose shows these amounts Dora: 412-34-5671 Date of birth: 7/12/1973 W-2 for Dora shows these amounts: wages (box 1) = $45,800.00 Federal W/H...
Very lost on the whole business side of doing taxes, could use
some help.
Advanced Scenario 8: Ramon Torrez 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. For the purpose of these scenario questions only, ignore the...
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
School. They live in a rented home at 1245 West 5Th Street,
Coalinga, CA. John is employed as a engineer and received...
Required information (The following information applies to the questions displayed below.) Marc and Michelle are married and earned salaries this year of $64,000 and $12,000, respectively. In addition to their salaries, they received interest of $350 from municipal bonds and $500 from corporate bonds. Marc contributed $2,500 to an individual retirement account, and Marc paid alimony to a prior spouse in the amount of $1,500 (under a divorce decree effective June 1, 2005). Marc and Michelle have a 10-year-old son,...
John and Sarah are married and earned salaries this year of
$64,000 and $12,000, respectively. In addition to their salaries,
they received interest of $350 from municipal bonds and $500 from
corporate bonds. John contributed $2,500 to an individual
retirement account, and John paid alimony to a prior spouse in the
amount of $1,500 (under a divorce decree effective June 1, 2005).
John and Sarah have a 10-year-old son, Michael, who lived with them
throughout the entire year. Thus, John...
please help me with this question!!! I need all the schedule
fill it out and I don’t know how to do it; please help me !
Help Save& Exit Submit Check my work During 2018, Jason and Vicki Hurting, who are married with two children and fling jointly, had the following tak information Jason landscaping business, and Vicki works as a sales executive for a manufacturing business Jason (SSN 412-34-5670) and Vicki (SSN 412-34-5671) reside at 123 Bate Street, Bright,...
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