Questions from Individual Taxation

Q: Horatio and Kelly were divorced at the end of last year.

Horatio and Kelly were divorced at the end of last year. Neither Horatio nor Kelly remarried during the current year and Horatio moved out of state. Determine the filing status of Horatio and Kelly fo...

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

In each of the following independent situations, determine the taxpayer’s filing status and the number of personal and dependency exemptions the taxpayer is allowed to claim. a. Frank is single and su...

Q: In each of the following independent cases, determine the taxpayer’s filing

In each of the following independent cases, determine the taxpayer’s filing status and the number of personal and dependency exemptions the taxpayer is allowed to claim. a. Alexandra is a blind widow...

Q: Janice Traylor is single. She has an 18-year-

Janice Traylor is single. She has an 18-year-old son named Marty. Marty is Janice’s only child. Marty has lived with Janice his entire life. However, Marty recently joined the Marines and was sent on...

Q: Doug Jones timely submitted his 2016 tax return and elected married filing

Doug Jones timely submitted his 2016 tax return and elected married filing jointly status with his wife, Darlene. Doug and Darlene did not request an extension for their 2016 tax return. Doug and Darl...

Q: Jeremy earned $100,000 in salary and $6,

Jeremy earned $100,000 in salary and $6,000 in interest income during the year. Jeremy has two qualifying dependent children who live with him. He qualifies to file as head of household and has $17,00...

Q: David and Lilly Fernandez have determined their tax liability on their joint

David and Lilly Fernandez have determined their tax liability on their joint tax return to be $1,700. They have made prepayments of $1,500 and also have a child tax credit of $1,000. What is the amoun...

Q: Rick, who is single, has been offered a position as

Rick, who is single, has been offered a position as a city landscape consultant. The position pays $125,000 in cash wages. Assume Rick files single and is entitled to one personal exemption. Rick dedu...

Q: Through November, Tex has received gross income of $120,

Through November, Tex has received gross income of $120,000. For December, Tex is considering whether to accept one more work engagement for the year. Engagement 1 will generate $7,000 of revenue at a...

Q: Describe the business purpose, step-transaction, and substance-

Describe the business purpose, step-transaction, and substance-over-form doctrines. What types of tax planning strategies may these doctrines inhibit?