Questions from Federal Taxation

Q: Determine how many personal and dependency exemptions are available in each of

Determine how many personal and dependency exemptions are available in each of the following independent situations. Specify whether any such exemptions would come under the qualifying child or the qu...

Q: Jenny, age 14, lives in a household with her father

Jenny, age 14, lives in a household with her father, uncle, and grandmother. The household is maintained by the uncle. The parties, all of whom file their own Federal income tax returns, report AGI as...

Q: Sam and Elizabeth Jefferson file a joint return. They have three

Sam and Elizabeth Jefferson file a joint return. They have three children, all of whom qualify as dependents. If the Jeffersons report 2017 AGI of $335,900, what is their allowable deduction for perso...

Q: Wesley and Myrtle (ages 90 and 88, respectively) live

Wesley and Myrtle (ages 90 and 88, respectively) live in an assisted care facility and for the last two years received their support from the following sources. Percentage of Support Social Sec...

Q: Rank the following items from the lowest to highest authority in the

Rank the following items from the lowest to highest authority in the Federal tax law system: a. Interpretive Regulation. b. Legislative Regulation. c. Letter ruling. d. Revenue Ruling. e. Internal Rev...

Q: In each of the following independent situations, determine Winston’s filing status

In each of the following independent situations, determine Winston’s filing status. Winston is not married. a. Winston lives alone, but he maintains a household in which his parents live. The mother q...

Q: Christopher died in 2015 and is survived by his wife, Chloe

Christopher died in 2015 and is survived by his wife, Chloe, and their 18- year-old son, Dylan. Chloe is the executor of Christopher’s estate and maintains the household in which she...

Q: Nadia died in 2016 and is survived by her husband, Jerold

Nadia died in 2016 and is survived by her husband, Jerold (age 44); her married son, Travis (age 22); and her daughter-in-law, Macy (age 18). Jerold is the executor of his wife’s estate. He maintains...

Q: Walter and Nancy provide 60% of the support of their daughter

Walter and Nancy provide 60% of the support of their daughter Irene (age 18) and son-in-law John (age 22). John is a full-time student at a local university, while Irene holds various part-time jobs f...

Q: Using the Tax Rate Schedules, compute the 2017 tax liability for

Using the Tax Rate Schedules, compute the 2017 tax liability for Charlotte. Charlotte (age 40) is a surviving spouse and provides all of the support of her four minor children, who live with her. Char...