Questions from Individual Taxation

Q: 2. Jason and Mary are married taxpayers in 2019. They

2. Jason and Mary are married taxpayers in 2019. They are both under age 65 and in good health. For 2019 they have a total of $41,000 in wages and $700 in interest income. Jason and Mary’s deductions...

Q: Patty Banyan is a single taxpayer (birthdate May 18, 1992

Patty Banyan is a single taxpayer (birthdate May 18, 1992) living at 543 Space Drive, Houston, TX 77099. Her Social Security number is 466-33-1234. For 2019, Patty has no dependents, and her W-2, from...

Q: John Williams (birthdate August 2, 1976) is a single

John Williams (birthdate August 2, 1976) is a single taxpayer. John’s earnings and withholdings as the manager of a local casino for 2019 are reported on his Form W-2: Johnâ
...

Q: Leslie is a single taxpayer who is under age 65 and in

Leslie is a single taxpayer who is under age 65 and in good health. For 2019, she has a salary of $24,000 and itemized deductions of $1,000. Leslie allows her mother to live with her during the winter...

Q: In 2019, Lou has a salary of $53,300

In 2019, Lou has a salary of $53,300 from her job. She also has interest income of $1,600 and dividend income of $400. Lou is single and has no dependents. During the year, Lou sold silver coins held...

Q: While preparing Massie Miller’s 2019 Schedule A, you review the following

While preparing Massie Miller’s 2019 Schedule A, you review the following list of possible charitable deductions provided by Massie: What would you say to Massie regarding her listed...

Q: In 2019, Gale and Cathy Alexander hosted an exchange student,

In 2019, Gale and Cathy Alexander hosted an exchange student, Axel Muller, for 9 months. Axel was part of International Student Exchange Programs (a qualified organization). Axel attended tenth grade...

Q: Charlie’s Green Lawn Care is a cash basis taxpayer. Charlie Adame

Charlie’s Green Lawn Care is a cash basis taxpayer. Charlie Adame, the sole proprietor, is considering delaying some of his December 2019 customer billings for lawn care into the next year. In additio...

Q: Your supervisor has asked you to research the following situation concerning Scott

Your supervisor has asked you to research the following situation concerning Scott and Heather Moore. Scott and Heather are married and file a joint return. Scott works full-time as a wildlife biologi...

Q: Your supervisor has asked you to research the following situation concerning Owen

Your supervisor has asked you to research the following situation concerning Owen and Lisa Cordoncillo. Owen and Lisa are brother and sister. In May 2019, Owen and Lisa exchange land they both held se...