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Connie and George are married, and Connie earned $62,010 while George earned $19,590. All the income was earned in Antelope, California. Applying community property law, what income is attributable to Connie and to George?

Connie and George are married, and Connie earned $62,010 while George earned $19,590. All the income was earned in Antelope, California. Applying community property law, what income is attributable to Connie and to George?

FINANCIAL ACCOUNTING
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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Connie and George are married, and Connie earned $62,010 while George earned $19,590. All the income was earned in Antelope, California. Applying community property law, what income is attributable to Connie and to George? A) $62,010 and $19,590. C) $62,010 and 62,010. Real Estate Taxes Robert, who is single, has the following possible deductions as seen below. His federal adjusted gross income was $34,800. On his California return he should? State Income Tax paid Taxes withheld CASDI Charitable donations Tax prep fees B) $40,800 and $40,800. $ 800 $ 1,420 $ 348 $ 250 $ 200 D) $19,590 and $62,010. A) Use the federal standard deduction of $12,950. B) Use the California standard deduction of $5,202. C) Use California itemized deductions of $3,018. D) Use the California standard deduction of $5,202 and add tax prep fees and charitable contributions for a total itemized deduction of $5,652.
Transcribed Image Text:Connie and George are married, and Connie earned $62,010 while George earned $19,590. All the income was earned in Antelope, California. Applying community property law, what income is attributable to Connie and to George? A) $62,010 and $19,590. C) $62,010 and 62,010. Real Estate Taxes Robert, who is single, has the following possible deductions as seen below. His federal adjusted gross income was $34,800. On his California return he should? State Income Tax paid Taxes withheld CASDI Charitable donations Tax prep fees B) $40,800 and $40,800. $ 800 $ 1,420 $ 348 $ 250 $ 200 D) $19,590 and $62,010. A) Use the federal standard deduction of $12,950. B) Use the California standard deduction of $5,202. C) Use California itemized deductions of $3,018. D) Use the California standard deduction of $5,202 and add tax prep fees and charitable contributions for a total itemized deduction of $5,652.
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