All of the following statements are true except A brother-in-law must live with the taxpayer the entire year to be claimed as a dependent even if the other tests are met. If a married person files a separate return, (s)he cannot claim his or her spouse as a dependent even if the spouse had no gross income and was not the dependent of another taxpayer. A son, age 21, was a full-time student who earned $4,400 from his part-time job. The money was used to buy a car. Even though he earned $4,400, his parents can claim him as a dependent if the other dependency tests were met. For each person claimed as a dependent, the Social Security number, adoption taxpayer identification number, or individual taxpayer identification number must be listed.

Please don't provide hand writtin solution....

Munabhai

Determine the taxpayer's current-year (1) economic income and (2) gross income for tax purposes from the following events: (LO.1) a. Ja-ron's employment contract as chief executive of a large corporation was terminated, and he was paid $500,000 not to work for a competitor of the corporation for five years. b. Elliot, a six-year-old child, was paid $5,000 for appearing in a television commercial. His parents put the funds in a savings account for the child's education. c. Valery found a suitcase that contained $100,000. She could not determine who the owner was. d. Winn purchased a lottery ticket for $5 and won $750,000. e. Larry spent $1,000 to raise vegetables that he and his family consumed. The cost of the vegetables in a store would have been $2,400. f. Dawn purchased an automobile for $1,500 that was worth $3,500. The seller was in desperate need of cash.

Suzanna earns $4000 in her summertime job; the rest of the year she attends college fulltime. Suzanna may claim an exemption from FIT withholding if: a.she also has a taxable scholarship (used for housing) = $15,000. b.her unearned income (interest) = $1698. c.her aunt claims her as a dependent and she has no unearned income. d.her unearned income (dividends) = $1800.

Charlotte is a partner in, and sales manager for, CD Partners, a domestic business that is not a "specified services" business. During the tax year, she receives guaranteed payments of $177,400 from CD Partners for her services to the partnership as its sales manager. In addition, her distributive share of CD Partners' ordinary income (its only item of income or loss) was $106,440. What is Charlotte's qualified business income? $fill in the blank 1 ______?

Please don't provide hnad writtin solution.....

For each of the following situations, indicate how much the taxpayer is required to include in gross income: Note: Leave no answer blank. Enter zero if applicable. Required: a. Steve was awarded a $7,050 scholarship to attend State Law School. The scholarship pays Steve's tuition and fees. b. Hal was awarded a $23,800 scholarship to attend State Hotel School. All scholarship students must work 20 hours per week at the School residency during the term.

Corbin(20) is a full time student eligible to be claimed as a dependent on his father's return. This year, Corbin incurred $1,600 in education expenses for his tuition. if Corbin's father chooses not to claim Corbin as a dependent on his return, which of the following is TRUE regarding Corbin's return?   a)Corbin may not claim an education credit. b)Corbin may be eligible to claim an education credit.

•     Jeff, age 68 and Claire, age 63 elect to file Married Filing Jointly. Neither taxpayer is blind.   •     Jeff is retired. He received Social Security benefits and a pension.   •     Jeff and Claire's daughter Shelby, age 19, is a full-time college student in her second year of  study. She is pursuing a degree in foreign studies and does not have a felony drug conviction.  She received a Form 1098-T for 2022. Box 7 was not checked on her Form 1098-T for the  previous tax year.   •     Shelby spent the summer at home with her parents but lived in an apartment near campus   during the school year.   •     Shelby received a scholarship and the terms require that it be used to pay tuition. Jeff and  Claire paid the cost of Shelby’s tuition and course-related books in 2022 not covered by  scholarship. They paid $120 for a parking sticker, $5,500 for a meal plan, $750 for textbooks  purchased at the college bookstore, and $100 for access to an online textbook.   •     Jeff and Claire…