Questions from Individual Taxation

Q: Skylar and Walter Black have been married for 25 years. They

Skylar and Walter Black have been married for 25 years. They live at 883 Scrub Brush Street, Apt. 52B, Las Vegas, NV 89125. Skylar is a stay-at-home parent and Walt is a high school teacher. Skylar&ac...

Q: Lydia, a married individual, was unemployed for a few months

Lydia, a married individual, was unemployed for a few months during 2019. During the year, she received $3,250 in unemployment compensation payments. How much of her unemployment compensation payments...

Q: During the 2019 tax year, Brian, a single taxpayer,

During the 2019 tax year, Brian, a single taxpayer, received $7,400 in Social Security benefits. His adjusted gross income for the year was $14,500 (not including the Social Security benefits) and he...

Q: Answer the following questions: a. Under a 2017 divorce

Answer the following questions: a. Under a 2017 divorce agreement, Joan is required to pay her ex-husband, Bill, $700 a month until their daughter is 18 years of age. At that time, the required paymen...

Q: Arlen is required by his 2019 divorce agreement to pay alimony of

Arlen is required by his 2019 divorce agreement to pay alimony of $2,000 a month and child support of $2,000 a month to his ex-wife Jane. What is the tax treatment of these two payments for Arlen? Wha...

Q: Kristen, a single taxpayer, receives two 2019 Forms W-

Kristen, a single taxpayer, receives two 2019 Forms W-2 from the two employers she worked for during the year. One Form W-2 lists her wages in Boxes 1, 3, and 5 as $18,700. Her other employer’s Form W...

Q: Skyler is covered by his company’s health insurance plan. The health

Skyler is covered by his company’s health insurance plan. The health insurance costs his company $9,500 a year. During the year, Skyler is diagnosed with a serious illness and health insurance pays $1...

Q: Ellen is a single taxpayer. Ellen’s employer pays $150 per

Ellen is a single taxpayer. Ellen’s employer pays $150 per month ($1,800 this year) for her health insurance. During the year, Ellen had medical expenses of $3,500 and the insurance company paid $2,00...

Q: Linda and Richard are married and file a joint return for 2019

Linda and Richard are married and file a joint return for 2019. During the year, Linda, who works as an accountant for a national airline, used $2,100 worth of free passes for travel on the airline; R...

Q: Indicate whether each of the items listed below would be included (

Indicate whether each of the items listed below would be included (I) in or excluded (E) from gross income for the 2019 tax year. a. Welfare payments b. Commissions c. Hobby income d. Scholarship...