Is Mary Jane's father considered a dependant?
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Mary Jane’s father lived with them until his death in November. His only sources of income were salary of $3,800,
Is Mary Jane's father considered a dependant?
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- Adrienne is a single mother with a six-year-old daughter who lived with her during the entire year. Adrienne paid $2,850 in child care expenses so that she would be able to work. Of this amount, $860 was paid to Adrienne’s mother, whom Adrienne cannot claim as a dependent. Adrienne had net earnings of $2,000 from her jewelry business. In addition, she received child support payments of $21,800 from her ex-husband. Use Child and Dependent Care Credit AGI schedule. Required: What amount, if any, of child and dependent care credit can Adrienne claim?Reba is a single taxpayer. Lawrence, Reba's 84-year-old dependent grandfather, lived with Reba until this year, when he moved to Lakeside Nursing Home because he needs specialized medical and nursing care. During the year, Reba made the following payments on behalf of Lawrence: Room at Lakeside $24,975 Meals for Lawrence at Lakeside 4,995 Doctor and nurse fees at Lakeside 3,746 Cable TV service for Lawrence's room at Lakeside 500 Total $34,216 Lakeside has medical staff in residence. Disregarding the AGI floor, how much, if any, of these expenses qualifies for a medical expense deduction by Reba?Charlotte (age 40) is a surviving spouse and provides all of the support of her four minor children who live with her (all are under age 16). She also maintains the household in which her parents live and furnished 60% of their support. Besides interest on City of Miami bonds in the amount of $5,500, Charlotte's father received $2,400 from a part-time job. Charlotte has a salary of $80,000, a short-term capital loss of $2,000, a cash prize of $4,000 from a church raffle, and itemized deductions of $10,500. FILING STATUS 2019 2020 Single 12,200 12,400 Married, Filing Jointly 24,400 24,800 Surviving spoise 24,400 24,800 Head of Household 18,350 18,650 Married, Filing Seperate 12,200 12.400 A. a. Compute Charlotte's taxable income. B b. Using the Tax Rate Schedules (See attached), tax liability (before any allowable credits) for Charlotte is $ *Blank* for 2020. C. c. Compute Charlotte's child and dependent tax credit.Charlotte's child tax credit is $ ________, of which $…
- 1John and Tara Smith are married and have lived in the same home for over 20 years. John's uncle Tim, who is 64 years old, has lived with the Smiths since March of this year. Tim is searching for employment but has been unable to find any-his gross income for the year is $2,000. Tim used all $2,000 toward his own support. The Smiths provided the rest of Tim's support by providing him with lodging valued at $5,000 and food valued at $2,200. Assume the original facts except that Tim earned $10,000 and used all the funds for his own support. Assume the original facts except that Tim is a friend of the family and not John's uncle• Aiden and Sophia are married and they have always filed Married Filing Jointly.• Aiden died May 5, 2020 at the age of 58. Sophia, age 56, has not remarried.• Aiden earned $5,000 in wages and Sophia earned $51,000 in wages.• Sophia paid all the cost of keeping up a home and provided all the support for theirtwo children, Mia and Oliver, who lived with them all year.• Mia is 11 years old and Oliver is 15 years old.• Sophia does not have enough deductions to itemize, but she did make a $500 cashcharitable contribution to a qualified charitable organization in tax year 2020.• Aiden, Sophia, Mia, and Oliver are all U.S. citizens with valid Social Securitynumbers. 5. What is most advantageous filing status allowable that Sophia can claim on the taxreturn for tax year 2020?a. Singleb. Head of Householdc. Qualifying Widow(er)d. Married Filing Jointly6. What amount can Sophia deduct as a charitable contribution adjustment?a. $0b. $250c. $300d. $500
- c. Scott, age 49, is a surviving spouse. His household includes two unmarried stepsons who qualify as his dependents. He has AGI of $75,000 and itemized deductions of $10,100. AGI Less: Standard deduction Taxable income AGI Less: Standard deduction d. Amelia, age 33, is an abandoned spouse who maintains a household for her three dependent children. She has AGI of $58,000 and itemized deductions of $10,650. Taxable income $75,000 AGI Less: Standard deduction 24,000 X Taxable income 50,600 X $58,000 26,850 X e. Chang, age 42, is divorced but maintains the home in which he and his daughter, Jill, live. Jill is single and qualifies as Chang's dependent. Chang has AGI of $64,000 and itemized deductions of $9,900. 31,150 X $64,000Jill's spouse Bob died six months ago. Their daughter is 20 years old and in university. Bob did not have a Will. As Jill is the surviving married spouse, she will receive $200,000 and then she and her daughter will each receive 50% of the remainder. The $200,000 refers to the dollar value of the estate assets that are distributed to the surviving spouse before the assets are distributed among all potential beneficiaries. This $200,000 is called. A holograph assets В preferential share C liquidation assets notarized share E widower's shareJermaine Watson is a single father with a son, Jamal, who qualifies as a dependent. They live at 5678 SE Stark St., Portland, OR 97233. Jermaine works at first bank of Oregon. Jamaal attends school and at the end of the school day he goes to a dependent care facility next-door to his school, where Jermaine picks him up after work. Jermaine pays $800 per month to the care facility (Portland Day Care, 4567 SE Stark St,. Portland, OR 97233. EIN 90-654-3210). Jermaine's W-2 from the first bank of Oregon is as follows: Wages (box 1) = $71,510.00 Federal W/H (Box 2) = $3,197.00 Social Security wages (box 3) = $71,510.00 Social Security W/H (box 4) = $4,433.62 Medicare wages (Box 5) = $71,510.00 Medicare W/H (Box 6) = $1,036.90 State Income Taxes (Box 17) = 1,134.90 Jermaine takes one class a semester at Portland State University towards an MBA degree. In 2019, he paid $1300 in tuition, $300 for books and $200 for a meal card. Jermaine has some investments in a New Zealand public…
- Ursula is employed by USA Corporation. USA Corporation provides medical and health, disability, and group term life insurance coverage for its employees. Premiums attributable to Ursula were as follows: (Click the icon to view the premiums attributable to Ursula.) During the year, Ursula suffered a heart attack and subsequently died. Before her death, Ursula collected $14,000 as a reimbursement for medical expenses and $5,000 of disability income. Upon her death, Ursula's husband collected the $40,000 face value of the life insurance policy. Read the requirements. Requirement a. What amount can USA Corporation deduct for premiums attributable to Ursula? (Enter a "0" if none of the premiums are deductible.) The premiums attributable to Ursula that USA Corporation can deduct is Data table Medical and health Disability Group term life (face amount is $40,000) S 3,600 300 200 C XNed is a head of household with a dependent son, Todd, who is a full-time student. This year Ned made the following expenditures related to Todd's support: Auto insurance premiums $ 1,700 Room and board at Todd’s school 2,200 Health insurance premiums (not through an exchange) 600 Travel (to and from school) 350 What amount can Ned include in his itemized deductions?Mark and parveen are the parents of three young children. Mark is a store manger in a local supermarket. His gross salary is 75,000 per year. Parveen is a full time stay at home mom. Use the easy method to estimate the family’s life insurance needs.