Thelma works at a liquor store in 2017 and makes $44,000. She also has dividend income of $12,000 and interest income of $1,000. She owns a beach house that gives her $11,000 in net rental income and she owns a stake in a limited partnership that generates a $15,000 loss. What is her adjusted gross income in 2017? a. 58000 b. 45000 c. 69000 d. 57000 2. Which of the following is not considered one of the five basic taxable or reporting entities? a. Partnership b. Corporation c. Portfolio d. Individual e. Trust 3. Which of the following is NOT a test that must be met for a child to be considered a dependent? a. domicile test b. citizenship test c. relationship test d. blood test

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Filing Federal Income Tax Return

A tax is the amount of money paid to the government on the revenue earned by the individual or business organization. It acts as an income for the government and an expense for the individual or business organization. There are different regulations regarding filing an income tax return in other countries.