For each of the following taxpayers, indicate the filing status for the taxpayer(s) for 2023 using the following legend: A - Single B- Married filing a joint return D Head of household E-Surviving spouse [qualifying widow(er)] C- Married filing separate returns
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- Compute the 2019 AMT exemption for the following taxpayers. a. Bristol, who is single, reports AMTI of 650,000. b. Marley and Naila are married and file a joint tax return. Their AMTI is 1,528,000.Which of the following is a deduction for AGI? a. Charitable contributions. b. Alimony paid for a divorce finalized in 2015. c. Tax preparation fees. d. Mortgage interest paid on your primary residence.During 2019, Inez (a single taxpayer) had the following transactions involving capital assets: a. If Inez has taxable income of 158,000, how much income tax results? b. If Inez has taxable income of 35,000, how much income tax results?
- Which of the following taxpayers is required to file a 2023 federal income tax return? Mateo (48) and Esperanza (44), married filing jointly, gross income $27, 250. Beth (48), qualifying surviving spouse, gross income $28, 250. Claire (64), single, gross income $12,550. Cody (65), single, gross income $15, 525.For each of the following cases, indicate the filing status for the taxpayer(s) for 2020 using the following legend: A—Single B—Married filing a joint return C—Married filing separate returns D—Head of household E—Qualifying widow(er) Case: Filing Status: a. Linda is single and she supports her old father (who has no income), including paying all the costs of her housing in an apartment across town. a. b. Felipe is single and he has a dependent child living in his home. b. c. Arthur is single and he supports his 30-year-old brother, who lives in his own home. c. d. Leslie’s final decree of divorce was granted on June 18, 2019. She has no dependents d. e. Tom and Carry were married on December 31, 2020. e. f. Betty and Ben divorced on December…Which of the following taxpayers does not have to file a tax return for 2018? a.A single taxpayer who is under age 65, with income of $13,500. b.Married taxpayers (ages 45 and 50 years), filing jointly, with income of $26,000. c.A student, age 22, with unearned income of $2,500 who is claimed as a dependent by her parents. d.A qualifying widow (age 67) with a dependent child and income of $18,800. e.All of these choices are correct.
- Using the married filing jointly status and their income and expense statement, calculate the 2017 tax liability for Shameka and Curtis Williams. First, use the standard deduction, and then use the following itemized deductions: Income Expenses Earned income Interest income $57,000.00 Home mortgage interest Real estate and state income taxes $8,400.00 1.900.00 3,900.00 Miscellaneous deductions 650.00 Explain to the Williams which method they should use and why. Shameka and Curtis' total gross income for the 2017 tax year is $ (Round to the nearest cent.)Use the 2021 marginal tax rates to compute the tax owed by the couple with the given filing status, taxable income, and tax credit. married filing jointly with a taxable income of $192,000 and a $8000 tax credit Click the icon to view the 2021 marginal tax rates. The tax owed is $ (Type an integer or a decimal. Round to the nearest cent as needed.)For the following taxpayers, determine if they are required to file a tax return in 2022. Required: a. Ricko, single taxpayer, with gross income of $17,300. b. Fantasia, head of household, with gross income of $17,200. c. Ken and Barbie, married taxpayers with no dependents, with gross income of $22,300. d. Dorothy and Rudolf, married taxpayers, both age 68, with gross income of $24,200. e. Janyce, single taxpayer, age 73, with gross income of $13,200.
- Using the married filing jointly status and their income and expense statement, calculate the 2017 tax liability for Shameka and Curtis Williams. First, use the standard deduction, and then use the following itemized deductions: Income Expenses Earned income $48,000.00 Home mortgage interest $7,800.00 Interest income 1,600.00 Real estate and state income taxes 3,850.00 Miscellaneous deductions 550.00 Explain to the Williams which method they should use and why. Shameka and Curtis' total gross income for the 2017 tax year is $____________. (Round to the nearest cent.)MemanUse the Tax Rate Schedules to determine the tax liability for each of the following cases. a. Single taxpayer, taxable income of $20,032. b. Single taxpayer, taxable income of $47,172. c. Married taxpayers, who file a joint return, have taxable income of $20,000. d. Married taxpayers, who file a joint return, have taxable income of $58,547. e. Married taxpayers, who file a joint return, have taxable income of $21,103. f. Single taxpayer, taxable income of $86,178. Note: For all requirements, round your intermediate computations and final answers to 2 decimal places. a. b. C. d. e. f. S Answer is not complete. Tax liability 1,114.40