For tax year 2023 you and your spouse are both 42 years ago in the following married filing jointly with a 19-year-old dependent in the first year of college you have a W2 income as well as capital gain you can also claim educational expense as well as medical and charitable donation your medical expenses 12,000 you're terrible donations are $5,000 hit w tooth again 15,000 all alone term you receive a tea 98 form and get dependent education institution and qualified expenses The long-term game should be taxed at work every race yes or no You take the standard deduction and your Capital income equal 70,800

For tax year 2023 you and your spouse are both 42 years ago in the following married filing jointly with a 19-year-old dependent in the first year of college you have a W2 income as well as capital gain you can also claim educational expense as well as medical and charitable donation your medical expenses 12,000 you're terrible donations are $5,000 hit w tooth again 15,000 all alone term you receive a tea 98 form and get dependent education institution and qualified expenses The long-term game should be taxed at work every race yes or no You take the standard deduction and your Capital income equal 70,800

Income Tax Fundamentals 2020

38th Edition

ISBN:9780357391129

Author:WHITTENBURG

Publisher:WHITTENBURG

Chapter7: Tax Credits

Section: Chapter Questions

Problem 12MCQ

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