South-Western Federal Taxation 2019: Individual Income Taxes (Intuit ProConnect Tax Online 2017 & RIA Checkpoint 1 term (6 months) Printed Access Card)
42nd Edition
ISBN: 9781337702546
Author: James C. Young, William H. Hoffman, William A. Raabe, David M. Maloney, Annette Nellen
Publisher: Cengage Learning
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Textbook Question
Chapter 4, Problem 4CPA
Jake pays the following amounts to his former spouse during the current year:
What amount can Jake deduct as alimony for the current year? Assume that the divorce occurred before 2019.
- a. $0
- b. $12,000
- c. $22,000
- d. $137,000
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Which of the following payments may be considered alimony? A. cash payment B. Child support 500 month C. Property settlement D. Payment on former spouces estate
Ann Moore receives a $1,000 monthly payment from her former husband Bill. Assume the taxable year is 2022.
Required:
a. How much of the $12,000 annual receipt is included in Ann's AGI assuming the monthly payment is alimony that Bill is required to
pay under the Moores' 2017 divorce decree?
b. How much of the $12,000 annual receipt is included in Ann's AGI assuming the monthly payment consists of $600 alimony and
$400 child support that Bill is required to pay under the Moores' 2017 divorce decree?
c. How much of the $12,000 annual receipt is included in Ann's AGI assuming the monthly payment is a gift from Bill, who is not legally
obligated to pay anything to Ann under their divorce decree?
d. How much of the $12,000 annual receipt is included in Ann's AGI under assumptions a, b, and c if the Moores' divorce decree was
executed in March 2020?
Complete this question by entering your answers in the tabs below.
Required A Required B
X Answer is not complete.
Required C
Annual receipt…
Edgar pays alimony to his former spouse, Frances, in the following
amounts: $150, 000 in year 1 $40, 000 in year 2 $20,000 in year 3 How
much, if any, recaptured alimony must be added to Edgar's gross income
in year 3?
Group of answer choices
0
32,500
112,500
150,000
Chapter 4 Solutions
South-Western Federal Taxation 2019: Individual Income Taxes (Intuit ProConnect Tax Online 2017 & RIA Checkpoint 1 term (6 months) Printed Access Card)
Ch. 4 - According to the Supreme Court, would it be good...Ch. 4 - Prob. 2DQCh. 4 - Prob. 3DQCh. 4 - Ben lost his job when his employer moved its...Ch. 4 - Prob. 5DQCh. 4 - Prob. 6DQCh. 4 - Prob. 7DQCh. 4 - A Series EE U.S. government savings bond accrues...Ch. 4 - The taxpayer performs services with payment due...Ch. 4 - Prob. 10DQ
Ch. 4 - Wade paid 7,000 for an automobile that needed...Ch. 4 - Prob. 12DQCh. 4 - Prob. 13DQCh. 4 - A divorce agreement entered into in 2017 requires...Ch. 4 - Prob. 15DQCh. 4 - Prob. 16DQCh. 4 - Prob. 17DQCh. 4 - Prob. 18DQCh. 4 - Prob. 19DQCh. 4 - Prob. 20DQCh. 4 - Prob. 21CECh. 4 - Bigham Corporation, an accrual basis calendar year...Ch. 4 - LO.3 Simba and Zola are married but file separate...Ch. 4 - Casper and Cecile divorced in 2018. As part of the...Ch. 4 - Prob. 25CECh. 4 - Prob. 26CECh. 4 - Prob. 27CECh. 4 - Prob. 28PCh. 4 - Prob. 29PCh. 4 - Determine the taxpayers gross income for tax...Ch. 4 - Prob. 31PCh. 4 - Determine the taxpayers gross income for tax...Ch. 4 - Prob. 33PCh. 4 - Your client is a partnership, ARP Associates,...Ch. 4 - Prob. 35PCh. 4 - Prob. 36PCh. 4 - Prob. 37PCh. 4 - Prob. 38PCh. 4 - Prob. 39PCh. 4 - Prob. 40PCh. 4 - Prob. 41PCh. 4 - Prob. 42PCh. 4 - Prob. 43PCh. 4 - Prob. 44PCh. 4 - Prob. 45PCh. 4 - Prob. 46PCh. 4 - Prob. 47PCh. 4 - Prob. 48PCh. 4 - Prob. 49PCh. 4 - Prob. 50PCh. 4 - Prob. 51PCh. 4 - Prob. 52PCh. 4 - For each of the following, determine the amount...Ch. 4 - Prob. 54PCh. 4 - Prob. 55PCh. 4 - Prob. 56PCh. 4 - Prob. 57PCh. 4 - Donna does not think she has an income tax problem...Ch. 4 - Prob. 1RPCh. 4 - Prob. 2RPCh. 4 - Prob. 3RPCh. 4 - Prob. 1CPACh. 4 - Fred and Wilma were divorced in year 1 (before...Ch. 4 - Bill and Jane Jones were divorced on January 1,...Ch. 4 - Jake pays the following amounts to his former...Ch. 4 - Mary purchased an annuity that pays her 500 per...
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