Question: Carl and Jenny adopt a Russian orphan.

> 1. In 2016, Irene, an unmarried individual, pays $6,500 in qualified adoption expenses to an adoption agency for the final adoption of an eligible child who is not a child with special needs. In the same year, the individual’s employer, under a qualified

> 1. The American Opportunity tax credit is 100 percent of the first of tuition and fees paid and 25 percent of the next . a. $600; $1,200 b. $1,100; $550 c. $2,000; $2,000 d. $1,100; $5,500 e. None of the above 2. Jane graduates from high school in June

> 1. Russ and Linda are married and file a joint tax return claiming their three children, ages 4, 7, and 18, as dependents. Their adjusted gross income for 2016 is $105,300. What is Russ and Linda’s total child credit for 2016? a. $600 b. $1,000 c. $2,000

> Steve and Sue are married with three dependent children. Their 2016 joint income tax return shows $389,000 of AGI and $60,000 of itemized deductions made up of $30,000 of state income taxes and $30,000 of charitable contributions. Calculate the following

> In 2016, Van receives $20,000 (of which $4,000 is earnings) from a qualified tuition program. He uses the funds to pay for his college tuition and other qualified higher education expenses. How much of the $20,000 is taxable to Van?

> Jose paid the following amounts for his son to attend Big State University in 2016: Tuition ……………………………………. $6,400 Room and board………………………. 4,900 Books………………………………………….967 A car to use at school…………………1,932 Student football tickets………………...237 Spending

> Diane is a single taxpayer who qualifies for the earned income credit. Diane has two qualifying children who are 3 and 5 years old. During 2016, Diane’s wages are $17,700 and she receives dividend income of $700. Calculate Diane’s earned income credit us

> Josh is a judge employed by the county. He must purchase and maintain his judicial robes. The total cost of purchasing a new robe and dry cleaning for the current year is $750, which is not reimbursed by his employer. How much may he deduct on his tax re

> George is employed as a sales manager for a computer manufacturer. His employer does not have an accountable expense reimbursement plan. George is reimbursed by his employer for $3,000 of travel expenses. How will the travel expenses and reimbursement be

> During the 2016 tax year, Irma incurred the following expenses: Union dues……………………â&#12

> Jim is fired from his job as a waiter and decides to take an extended trip to Europe. After touring Europe for 3 months, Jim returns to look for a new job as a waiter. Are his job-hunting expenses deductible for 2016? Please explain:

> Dan has a 20-year-old vintage car behind his residence. He has rarely used it. This year he discovers that it has been completely destroyed by rust. The car originally cost $5,000 and had a fair market value of that amount before the rust destroyed it. D

> Kerry’s car is totaled in an auto accident. The car originally cost $18,000, but is worth $7,500 at the time of the accident. Kerry’s insurance company gives her a check for $7,500. Kerry has $30,000 of adjusted gross income. How much can Kerry claim as

> Go to the IRS website (www.irs.gov) and print out a copy of the most recent Instructions for Form 4684, Casualties and Thefts.

> Wilbur DuVal has an apartment full of antique furniture. A fire in the apartment destroys a large part of his furnishings. The destroyed furnishings had a fair market value of $40,000, and Wilbur’s original basis in the furnishings was $33,100. He recove

> On January 3, 2016, Carey discovers his diamond bracelet has been stolen. The bracelet had a fair market value and adjusted basis of $7,000. Assuming Carey had no insurance coverage on the bracelet and his adjusted gross income for 2016 is $50,000, calcu

> In June of 2016, Maureen’s house is vandalized during a long-term power failure after a hurricane hit the city. The president of the United States declares Maureen’s city a disaster area as a result of the wide-scale vandalism. In which tax year may Maur

> List the rules that apply to taxpayers with a qualifying child in order to claim the EIC.

> Richard donates publicly traded Gold Company stock with a basis of $1,000 and a fair market value of $15,000 to the college he attended, which is considered a public charity. Richard has owned the shares for 10 years. How is this contribution treated on

> Jerry made the following contributions during 2016: His synagogue (by check) ……………………â&#

> Three years ago, Barbara donates a painting that cost $8,000, to a university for display in the president’s office. The fair market value of the painting on the date of the gift is $14,000. If Barbara had sold the painting, the difference between the sa

> Mark owns his home and has a $250,000 mortgage related to his purchase of the residence. When his daughter went to college in the fall of 2016, he borrowed $20,000 through a home equity loan on his house to help pay for her education. The interest expens

> Helen paid the following amounts of interest during the 2016 tax year: Mortgage interest on Dallas residence (loan balance $50,000) ……………$1,585 Automobile loan interest (personal use only) ………………………………………….440 Mortgage interest on Vail residence (loan b

> Janet and James purchased their personal residence 15 years ago for $300,000. For the current year, they have an $80,000 first mortgage on their home, on which they paid $5,750 in interest. They also have a home equity loan secured by their home with a b

> Ken paid the following amounts for interest during 2016: Qualified interest on home mortgage…………………â€&

> Matthew borrows $250,000 to invest in bonds. During the current year, his interest on the loan is $30,000. Matthew’s interest income from the bonds is $10,000. This is Matthew’s only investment income. a. Calculate Matthew’s itemized deduction for invest

> Mary’s mother defaults on a home loan and Mary pays $600 in loan payments, including $175 in interest. Mary is not legally obligated on the loan and has no ownership interest in her mother’s home. a. What amount, if any, may Mary claim as an itemized ded

> Mary paid $2,000 of state income taxes in 2016. The total sales tax she paid during 2016 was $4,500, which included $3,000 for the cost of a new car. How should Mary treat the taxes paid on her 2016 tax return?

> List the rules that apply to taxpayers without a qualifying child in order to claim the EIC.

> Laura is a single taxpayer living in New Jersey with adjusted gross income for the 2016 tax year of $35,550. Laura’s employer withheld $3,300 in state income tax from her salary. In April of 2016, she pays $700 in additional state taxes

> Mike sells his home to Jane on April 2, 2016. Jane pays the property taxes covering the full calendar year in October, which amount to $2,500. How much may Mike and Jane each deduct for property taxes in 2016? Mike’s deduction Jane’s deduction

> Lyndon’s employer withheld $1,800 in state income taxes from Lyndon’s wages. Lyndon obtained a refund of $200 this year for overpayment of state income taxes for last year. State income taxes were an itemized deduction on his prior year return. His liabi

> Cindy and Paul are married and live together in Arizona. During the year, Paul receives a salary of $45,000 and $4,000 of dividends from stock that is his separate property. Cindy receives a salary of $27,000. Cindy and Paul receive $1,500 in interest in

> Janet needs an elevator seat attached to her stairs since she has a medical condition that makes her unable to climb the stairs in her house. The $10,000 spent on the elevator seat does not increase the value of her house according to a local appraiser.

> In 2016, Margaret and John Murphy (both over age 65) are married taxpayers who file a joint tax return with AGl of $26,500. During the year they incurred the following expenses: Medical insurance premiums ……&acirc

> Does the tax on unearned income of minor children, or “kiddie tax,” apply to wages earned by minors in summer and other jobs?

> Linda installed a special pool for the hydrotherapeutic treatment of severe arthritis, as prescribed by her doctor. The cost of installing the pool was $20,000, and her insurance company paid $5,000 toward its cost. The pool increased the value of Linda’

> Explain the two different ways that the tax on unearned income of minor children, or “kiddie tax,” can be reported.

> Nikkie and Jean have two children, Richard (age 4) and Roberta (age 3). For purposes of the tax on a child’s unearned income, Richard has net unearned income of $6,000 and Roberta has net unearned income of $4,000. Assuming that their total tax on a chil

> Brian and Kim have a 12-year-old child, Stan. For 2016, Brian and Kim have taxable income of $52,000, and Stan has nonqualifying dividend income of $4,500 and investment expenses of $250. No election is made to include Stan’s income on Brian and Kim’s re

> Explain the purpose of the provision in the tax law that taxes unearned income of certain minor children at their parents’ tax rates.

> Show the simplified formula for calculating AMT. Do not show tax rates or an exemption amount.

> List the 7 rules that all taxpayers must meet in order to claim the EIC.

> What are the two tax rates which are used to calculate AMT, ignoring the special treatment of dividends and capital gains?

> Although the AMT is meant to prevent high-income taxpayers from using tax shelters to avoid paying tax, why might married taxpayers with several children living in a state with high state income taxes and property taxes (e.g., California or New York) fi

> List two common deductions which are allowed for regular tax purposes but are not deductible for AMT purposes.

> Otto and Monica are married taxpayers who file a joint tax return. For the current tax year, they have AGI of $80,300. They have excess depreciation on real estate of $67,500, which must be added back to AGI to arrive at AMTI. The amount of their mortgag

> In 2016, Jeff spends $6,000 on solar panels to heat water for his main home. What is Jeff’s credit for his 2016 purchases?

> Mike bought a solar electric pump to heat his pool at a cost of $2,500 in 2016. What is Mike’s credit?

> Martha and Lew are married taxpayers with $400 of foreign tax withholding from dividends in a mutual fund. They have enough foreign income from the mutual fund to claim the full $400 as a foreign tax credit. Their tax bracket is 25 percent and they itemi

> Jasper is single and is a computer software consultant with a college degree. He feels that one of the reasons for his success is that he continually updates his knowledge by taking classes at the local college in various areas related to software design

> Janie graduates from high school in 2016 and enrolls in college in the fall. Her parents pay $4,000 for her tuition and fees. a. Assuming Janie’s parents have AGI of $170,000, what is the American Opportunity tax credit they can claim for Janie? b. Assum

> How does the earned income credit produce a “negative” income tax?

> Please explain the difference between the types of education covered by the American Opportunity tax credit and the lifetime learning credit.

> What is the reason there are education tax credits in the tax law?

> Using the information in the previous question, assume that the Collins’ Form 1095-A also indicated that the total advance payment of the premium tax credit was $9,200. Calculate the excess advance premium tax credit and the repayment amount for 2016.

> Susan and Stan Collins live in Iowa, are married and have two children ages 6 and 10. In 2016, Susan’s income is $38,000 and Stan’s is $12,000 and both are self-employed. They also have $500 in interest income from tax-exempt bonds. The Collins’ enrolled

> Susan is a single taxpayer, 26 years of age, with AGI of $28,000 and no tax-exempt income. She did not have minimum essential coverage for 9 months in 2016. Compute Susan’s individual shared responsibility payment for 2016.

> Marty and Jean are married and have 4-year-old twins. Jean is going to school fulltime for 9 months of the year, and Marty earns $45,000. The twins are in day care so Jean can go to school while Marty is at work. The cost of day care is $10,000. What is

> Martha has a 3-year-old child and pays $10,000 a year in day care costs. Her salary is $45,000. How much is her child and dependent care credit?

> Mary and John are married and have AGI of $100,000 and two young children. John doesn’t work, and they pay $6,000 a year to day care providers so he can shop, clean, and read a little bit in peace. How much child and dependent care credit can Mary and Jo

> Go to the IRS website (www.irs.gov) and redo Problem 10 above using the most recent interactive Form 2441, Child and Dependent Care Expenses. Print out the completed Form 2441.

> Clarita is a single taxpayer with two dependent children, ages 10 and 12. Clarita pays $3,000 in qualified child care expenses during the year. If her adjusted gross income (all from wages) for the year is $18,500, calculate Clarita’s child and dependent

> Calculate the child credit for the following taxpayers. Please show your work. a. Jeremy is a single (head of household) father with $80,100 of AGI and has a dependent 8-year-old son: b. Jerry and Ann have $100,000 of AGI, file jointly, and claim two dep

> Given the file structure shown in Figure P1.1, if you wanted to produce a listing of the file contents by last name, area code, city, state, or zip code, how would you alter the file structure? FIGURE P1.1 The File Structure for Problems 1-4 PROJECT

> Given the file structure shown in Figure P1.1, What problem would you encounter if you wanted to produce a listing by city? How would you solve this problem by altering the file structure? FIGURE P1.1 The File Structure for Problems 1-4 PROJECT_CODE

> Given the file structure shown in Figure, how many records does the file contain? How many fields are there per record?

> Typically, a patient staying in a hospital receives medications that have been ordered by a particular doctor. Because the patient often receives several medications per day, there is a 1:M relationship between PATIENT and ORDER. Similarly, each order ca

> Create the UML class diagram that reflects the entities and relationships you identified in the relational diagram.

> Create the basic Crow’s Foot ERD for Tiny College.

> How would you model Question 6 with an OODM? (Use Figure 2.4 as your guide.)

> Identify each relationship type and write all of the business rules.

> Create the basic Crow’s Foot ERD for DealCo.

> Identify each relationship type and write all of the business rules.

> Using the ERD you drew in Problem 2, create the equivalent Object representation and UML class diagram. (Use Figure 2.4 as your guide.) Data from problem 2: Figure P2.2b The Chen ERD for Problem 2 Chen model 1 M. AGENT serves CUSTOMER

> Given the business rule(s) you wrote in Problem 1, create the basic Crow’s Foot ERD.

> Using the ERD from Problem 10, create the relational schema. (Create an appropriate collection of attributes for each of the entities. Make sure you use the appropriate naming conventions to name the attributes.)

> United Broke Artists (UBA) is a broker for not-so-famous painters. UBA maintains a small network database to track painters, paintings, and galleries. A painting is painted by a particular artist, and that painting is exhibited in a particular gallery.

> Write the business rule(s) that governs the relationship between AGENT and CUSTOMER.

> Write the business rules that are reflected in the ERD shown in Figure P2.17.

> Create a Crow’s Foot ERD for each of the following descriptions. (Note: The word many merely means “more than one” in the database modeling environment.) a. Each of the MegaCo Corporation’s divisions is composed of many departments. Each of those departm

> What is the difference between an object and a class in the object-oriented data model (OODM)?

> Write the business rules that are reflected in the ERD shown in Figure P2.15. (Note that the ERD reflects some simplifying assumptions. For example, each book is written by only one author. Also, remember that the ERD is always read from the “1” to the “

> Create a Crow’s Foot ERD to include the following business rules for the ProdCo company: a. Each sales representative write many invoices. b. Each invoice is written by one sales representative. c. Each sales representative is assigned to one department.

> Describe the relationships (identify the business rules) depicted in the Crow’s Foot ERD shown in Figure P2.13.

> Convert the ERD from Problem 10 into the corresponding UML class diagram.

> Using your school’s student information system, print your class schedule. The schedule probably would contain the student identification number, student name, class code, class name, class credit hours, class instructor name, the class

> Given the file structure shown in Figure P1.9, what problem(s) might you encounter if building KOM were deleted? FIGURE P1.9 The File Structure for Problems 9-10 BUILDING CODE ROOM_CODE TEACHER LNAME TEACHER_FNAME TEACHER_INITIAL DAYS_TIME : Ком 204

> Identify and discuss the serious data redundancy problems exhibited by the file structure shown in Figure P1.9. (The file is meant to be used as a teacher class assignment schedule. One of the many problems with data redundancy is the likely occurrence o

> Given your answer to Problem 7, what new files should you create to help eliminate the data redundancies found in the file shown in Figure P1.5? FIGURE P1.5 The File Structure for Problems 5-8 PROJ_NUM PROJ_NAME EMP_NUM EMP_NAME JOB_CODE JOB_CHG_HOU

> Identify the various data sources in the file you examined in Problem 5. Data from problem 5: FIGURE P1.5 The File Structure for Problems 5-8 PROJ_NUM PROJ_NAME EMP_NUM EMP_NAME JOB_CODE JOB_CHG_HOUR PROJ_HOURS EMP_PHONE 1 Hurricane 101 John D. News

> Looking at the EMP_NAME and EMP_PHONE contents in Figure P1.5, what change(s) would you recommend? FIGURE P1.5 The File Structure for Problems 5-8 PROJ_NUM PROJ_NAME EMP_NUM JOB_CODE JOB_CHG_HOUR PROJ_HOURS EMP_PHONE 13.3 653-234-3245 EMP_NAME 1 Hur

> Why is an object said to have greater semantic content than an entity?

> Identify and discuss the serious data redundancy problems exhibited by the file structure shown in Figure P1.5. FIGURE P1.5 The File Structure for Problems 5-8 PROJ_NUM PROJ_NAME EMP_NUM EMP_NAME |JOB_CODE JOB_CHG_HOUR PROJ_HOURS EMP_PHONE 1 Hurrica

> Given the file structure shown in Figure P1.1, what data redundancies do you detect? How could those redundancies lead to anomalies? FIGURE P1.1 The File Structure for Problems 1-4 PROJECT_CODE PROJECT_MANAGER MANAGER_PHONE 21-5Z 25-2D 25-5A 25-9T 2

> What is data independence, and why is it lacking in file systems?

> What is data redundancy, and which characteristics of the file system can lead to it?

> Define each of the following terms:

> Identify the foreign keys. Data from FIGURE Q3.18 The Ch03_Theater Database Tables: Table name: DIRECTOR Database name: Ch03_The ater DIR_NUM DIR_LNAME DIR_DOB 100 Broadway 12-Jan-65 101 Hollywoody 18-Nov-53 102 Goofy 21-Jun-62 Table name: PLAY PLA

> Identify the primary keys. Data from FIGURE Q3.18 The Ch03_Theater Database Tables: Table name: DIRECTOR Database name: Ch03_The ater DIR_NUM DIR_LNAME DIR_DOB 100 Broadway 12-Jan-65 101 Hollywoody 18-Nov-53 102 Goofy 21-Jun-62 Table name: PLAY PLA