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Self-Study Problem 2.13 A taxpayer (payor ex-spouse) is required to pay an ex-spouse (recipient ex-spouse) alimony of $12,000 per year. Determine how much alimony is deductible by the payor ex-spouse and how much alimony is recognized as income by the recipient ex-spouse based on the following information: If an answer is zero, enter "0". Details a. The payments are made in 2021 as part of a divorce decree executed in 2018. The divorce decree is modified in 2021 to explicitly apply the provisions of the TCJA. b. The payments are made in 2021 as part of a divorce decree executed in 2016. c. The payments are made in 2021 as part of a divorce decree executed in 2021. Deductible by payor Includable by recipient 00 00

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Use the Tax Rate Tables, Exhibit 18-3, to calculate the tax liability (in $) for the taxpayer. Name Filing Status Taxable Income Tax Liability Rua head of household $195,200

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A 42-year-old single taxpayer earning a salary of $138,000 a year can make which of the following IRA contributions if he is not coverec by a plan at work? Oa. S7.000 to either a traditional IRA, a Roth IRA, or a nondeductible IRA Ob. $6,000 to elther a traditional IRA a Roth IRA. or a nondeductible IRA Oc. $6.000 to either a traditional IRA or a nondeductible IRA, but no contribution is allowed to a Roth IRA Od. $6,000 to a Roth IRA only

36. The following interest payments were made by an individual income taxpayer in 2022: Sua 12/8 TUCK Tueboe GETOL va y Tudor:: TD 1 ne q/02 Interest on loan from BDO used to finance a business Interest on loan from Pag-Ibig to build residence A. 80,000 B. 82,500 C. 175,000 D. 221, 500 Interest on loan obtained from brother and used in business Interest on loan from BPI used to buy computer equipment in the office Interest for late payment of value-added tax Interest on purchase price of residential lot bought on installments Interest payment on a debt which has prescribed The deductible amount of interest is O P 50,000 100,000 25,000 30,000 2,500 2,000 12,000

financial account questions

Ac. 2

Troy's financial records for the year reflect the following: Interest income from bank savings account: Taxable annuity receipts: Safe deposit box rental (to hold annuity documents): Investment interest expense: Troy's net investment income is $ $ 900 1,800 125 3,200 X and his investment interest deduction is $

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Age 60 61 62 63 65 66 67 64 68 69 80 81 82 70 71 83 84 85 86 87 88 89 90 72 73 74 75 76 77 78 79 Table I (Single Life Expectancy) (For Use by Beneficiaries) Life Expectancy 27.1 26.2 25.4 24.5 23.7 22.9 22.0 21.2 20.4 19.6 18.8 18.0 17.2 16.4 15.6 14.8 14.1 13.3 12.6 11.9 11.2 10.5 9.9 9.3 8.7 8.1 7.6 7.1 6.6 6.1 5.7 Age 91 92 93 94 95 96 97 98 99 100 101 102 103 104 105 106 107 108 109 110 111 112 113 114 115 116 117 118 119 120+ Life Expectancy 5.3 4.9 4.6 4.3 4.0 3.7 3.4 3.2 3.0 2.8 2.6 2.5 2.3 2.2 2.1 2.1 2.1 2.0 2.0 2.0 2.0 2.0 1.9 1.9 1.8 1.8 1.6 1.4 1.1 1.0

Need answer general Accounting question

36. The following interest payments were made by an individual income taxpayer in 2022: Sua 12/8 TUCK Tueboe y Tudor: TD GETOL va 1 ne gos Interest on loan from BDO used to finance a business Interest on loan from Pag-Ibig to build residence A. 80,000 B. 82,500 C. 175,000 D. 221, 500 Interest on loan obtained from brother and used in business Interest on loan from BPI used to buy computer equipment in the office Interest for late payment of value-added tax Interest on purchase price of residential lot bought on installments Interest payment on a debt which has prescribed The deductible amount of interest is O P 50,000 100,000 25,000 30,000 2,500 2,000 12,000

Q. 5 i need help with a-d

Please given correct answer general Accounting

7. Taxpayer, age 68, just purchased an annuity contract at a cost of $100,000. Assume that the annuity will pay Taxpayer $600 per month for life. How much each year may Taxpayer exclude? A B C DE $7,890 3,600 7,200 1,600 None of the above