Questions from Individual Taxation

Q: Reba Dixon is a fifth-grade school teacher who earned a

Reba Dixon is a fifth-grade school teacher who earned a salary of $38,000 in 2018. She is 45 years old and has been divorced for four years. She received $1,200 of alimony payments each month from her...

Q: Troy operates an editorial service that employs two editors. These editors

Troy operates an editorial service that employs two editors. These editors often entertain authors to encourage them to use Troy's service. This year Troy reimbursed the editors $3,000 for the cost of...

Q: John and Sandy Ferguson got married eight years ago and have a

John and Sandy Ferguson got married eight years ago and have a seven-year-old daughter Samantha. In 2018, John worked as a computer technician at a local university earning a salary of $152,000, and S...

Q: In 2018, Jasmine and Thomas, a married couple, have

In 2018, Jasmine and Thomas, a married couple, have taxable income of $150,000. If they were to file separate tax returns, Jasmine would have reported taxable income of $140,000 and Thomas would have...

Q: Lacy is a single taxpayer. In 2018, her taxable income

Lacy is a single taxpayer. In 2018, her taxable income is $40,000. What is her tax liability in each of the following alternative situations? a. All of her income is salary from her employer. b. Her $...

Q: Henrich is a single taxpayer. In 2018, his taxable income

Henrich is a single taxpayer. In 2018, his taxable income is $450,000. What is his income tax and net investment income tax liability in each of the following alternative scenarios? a. All of his inco...

Q: In 2018, Sheryl is claimed as a dependent on her parent’s tax

In 2018, Sheryl is claimed as a dependent on her parent’s tax return. Sheryl did not provide more than half her own support. What is Sheryl’s tax liability for the year in each of the following altern...

Q: In 2018, Carson is claimed as a dependent on his parent’s

In 2018, Carson is claimed as a dependent on his parent’s tax return. Carson’s parents provided most of his support. What is Carson’s tax liability for the year in each of the following alternative ci...

Q: Brooklyn files as a head of household for 2018). She claimed

Brooklyn files as a head of household for 2018). She claimed the standard deduction of $18,000 for regular tax purposes. Her regular taxable income was $80,000. What is Brooklyn’s AMTI?

Q: Sylvester files as a single taxpayer during 2018. He itemizes deductions

Sylvester files as a single taxpayer during 2018. He itemizes deductions for regular tax purposes. He paid charitable contributions of $7,000, real estate taxes of $1,000, state income taxes of $4,000...