26. LO3 Determine the maximum deduction from AGI for 2018 for each of the following taxpayers:a. Pedro is single and maintains a household for his father. His father is not a dependent of Pedro's. Pedro'sitemized deductions are $12,100.b. Jie and Ling are married. Jie is 66 years old, and Ling is 62. They have itemized deductions of $19,000.c. Myron and Samantha are married, and both are 38 years of age. Samantha is legally blind. They haveitemized deductions of $24,500.d. Joelynn is divorced and maintains a home for her 21-year-old son, who is a part-time student at the localuniversity. He pays less than one-half of his support and his earned income for the year is $3,900. Heritemized deductions are $17,000.e. Frank is 66 years of age. During the year, his wife dies. His itemized deductions are $23,700.f. Assume the same facts as in part e, except that Frank's wife dies in 2016.

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26. LO3 Determine the maximum deduction from AGI for 2018 for each of the following taxpayers: a. Pedro is single and maintains a household for his father. His father is not a dependent of Pedro's. Pedro's itemized deductions are $12,100.

26. LO3 Determine the maximum deduction from AGI for 2018 for each of the following taxpayers: a. Pedro is single and maintains a household for his father. His father is not a dependent of Pedro's. Pedro's itemized deductions are $12,100.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

26. LO3 Determine the maximum deduction from AGI for 2018 for each of the following taxpayers:
a. Pedro is single and maintains a household for his father. His father is not a dependent of Pedro's. Pedro's
itemized deductions are $12,100.
b. Jie and Ling are married. Jie is 66 years old, and Ling is 62. They have itemized deductions of $19,000.
c. Myron and Samantha are married, and both are 38 years of age. Samantha is legally blind. They have
itemized deductions of $24,500.
d. Joelynn is divorced and maintains a home for her 21-year-old son, who is a part-time student at the local
university. He pays less than one-half of his support and his earned income for the year is $3,900. Her
itemized deductions are $17,000.
e. Frank is 66 years of age. During the year, his wife dies. His itemized deductions are $23,700.
f. Assume the same facts as in part e, except that Frank's wife dies in 2016.

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