Questions from Federal Taxation

Q: Charlotte (age 40) is a surviving spouse and provides all

Charlotte (age 40) is a surviving spouse and provides all of the support of her four minor children (ages 4, 8, 11, and 14) who live with her. She also maintains the household in which her parents liv...

Q: Morgan (age 45) is single and provides more than 50

Morgan (age 45) is single and provides more than 50% of the support of Tammy (a family friend), Jen (a niece, age 18), and Jerold (a nephew, age 18). Both Tammy and Jen live with Morgan, but Jerold (a...

Q: Which of the following individuals are required to file a tax return

Which of the following individuals are required to file a tax return for 2021? Should any of these individuals file a return even if filing is not required? Why or why not? a. Patricia, age 19, is a s...

Q: Sarah and Brandi are engaged and plan to get married. During

Sarah and Brandi are engaged and plan to get married. During 2021, Sarah is a full-time student and earns $9,000 from a part-time job. With this income, student loans, savings, and nontaxable scholars...

Q: Euclid acquires a 7-year class asset on May 9,

Euclid acquires a 7-year class asset on May 9, 2021, for $80,000 (the only asset acquired during the year). Euclid does not elect immediate expensing under § 179. She does not claim any available addi...

Q: During the year, Alva received dividends on her stocks as follows

During the year, Alva received dividends on her stocks as follows: Amur Corporation (a French corporation whose stock is traded on an established U.S. securities market) …………………………………..$60,000 Blaze,...

Q: Christopher died in 2019 and is survived by his wife, Chloe

Christopher died in 2019 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 2020 and is survived by her husband, Jerold

Nadia died in 2020 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: Paige, age 17, is a dependent of her parents.

Paige, age 17, is a dependent of her parents. Her parents report taxable income of $120,000 on their joint return (no qualified dividends or capital gains). During 2021, Paige earned $3,900 pet sittin...

Q: Terri, age 16, is a dependent of her parents.

Terri, age 16, is a dependent of her parents. During 2021, Terri earned $5,000 in interest income and $3,000 from part-time jobs. a. What is Terri’s taxable income? b. How much of Terri’s income is ta...