Question 34 of 50. During the year, Brenda (70), a single taxpayer, received $18,000 in social security benefits. Her only other income consisted of $6,000 in wages from a part-time job and a pension distribution of $8,500. How much of Brenda's social security benefits are taxable? O None of her benefits are taxable. O 50%. 85%. O 100%.
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- Darrell is an employee of Whitneys. During the current year, Darrells salary is 136,000. Whitneys net self-employment income is also 136,000. Calculate the Social Security and self-employment taxes paid by Darrell and Whitney. Write a letter to Whitney in which you state how much she will have to pay in Social Security and self-employment taxes and why she owes those amounts.How much taxable income should each of the following taxpayers report? a. Kimo builds custom surfboards. During the current year, his total revenues are 90,000, and he incurs 30,000 in expenses. Included in the 30,000 is a 10,000 payment to Kimos five-year-old son for services as an assistant. b. Manu gives hula lessons at a local bar. During the current year, she receives 9,000 in salary and 8,000 in tips. In addition, she engages in illegal behavior, for which she receives 10,000.During the year, Brenda (70), a single taxpayer, received $18,000 in social security benefits. Her only other income consisted of $6,000 in wages from a part-time job and a pension distribution of $8,500. How much of Brenda's social security benefits are taxable? None of her benefits are taxable. 50%. 85%. 100%.
- Mark Mark for follow up Question 34 of 50. During the year, Brenda (70), a single taxpayer, received $18,000 in social security benefits. Her only other income consisted of $6,000 in wages from a part-time job and a pension distribution of $8,500. How much of Brenda's social security benefits are taxable? None of her benefits are taxable. 50%. 85%. 100%.Aa.61. Joan was the insured under a term life insurance policy with death benefits of $250,000. Joan passes away during the effective term of the policy. The beneficiary is awarded the benefits under the policy, payable over 10 years. In the first year after Joan’s death, the beneficiary receives $27,000. What are the tax consequences of this payment to the beneficiary? Group of answer choices A. The payment is entirely taxable under § 61. C. The payment is excluded from income under § 101. D. This question cannot be answered without access to the IRS mortality tables. B. $2,000 of the payment is taxable.During the year brenda(70) a single tax payer received 18000 social security benefits. Her only other income consisted 6000 in part time job and pension distribution of 8500$. How much Brenda's social security taxes are taxable