Doug and Diane file a joint return. Doug earned $33,000 during the year before losing his job. Diane received Social Security benefits of$4,400.   Requirements a. Determine the taxable portion of the Social Security benefits. b. What is the taxable portion of the Social Security benefits if Doug earned $43,000​?   Requirement a. Determine the taxable portion of the Social Security benefits.   Begin by computing the provisional income. Only select items that are applicable to Dan and Diana. ​(Leave unused cells​ blank, do not select a label or enter a​ zero.)   Adjusted gross income (excluding Social Security benefits)   Plus: 50% of Social Security benefits         Provisional income $ The taxable portion of the Social Security benefits is $   . Requirement b. What is the taxable portion of the Social Security benefits if Doug earned $43,000​?   Begin by computing the provisional income.   The provisional income is   .

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Doug and Diane file a joint return. Doug earned $33,000 during the year before losing his job. Diane received Social Security benefits of$4,400.
 
Requirements
a.
Determine the taxable portion of the Social Security benefits.
b.
What is the taxable portion of the Social Security benefits if
Doug earned $43,000​?
 
Requirement a. Determine the taxable portion of the Social Security benefits.
 
Begin by computing the provisional income. Only select items that are applicable to Dan and Diana. ​(Leave unused cells​ blank, do not select a label or enter a​ zero.)
 
Adjusted gross income (excluding Social Security benefits)
 
Plus:
50% of Social Security benefits
 
 
 
 
Provisional income
$
The taxable portion of the Social Security benefits is
$
 
.
Requirement b. What is the taxable portion of the Social Security benefits if
Doug earned $43,000​?
 
Begin by computing the provisional income.
 
The provisional income is
 
.
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