and was widowed in 2019. He has a daughter, Christina, age 6. • Thomas provided the entire cost of maintaining the household and over half of the support for Christina. In order to work, he pays childcare expenses to Downtown Daycare. • Thomas purchased health insurance for himself and his daughter through the Marketplace. He received a Form 1095-A. • Thomas and Christina are U.S. citizens and lived in the United States all year in 2022   a. Thomas's adjusted gross income on his Form 1040 is $__________.

Clay and Marian are married and will file a joint return. Marian is a U.S. citizen with a valid Social Security number. Clay is a resident alien with an Individual Taxpayer Identification Number (ITIN). Marian worked in 2022 and earned wages of $32,000. Clay worked part-time and earned wages of $18,000. The Washingtons have two children: Erin, age 12 and Jenny, age 18. The Washingtons provided the total support for their two children, who lived with them in the U.S. all year. Erin and Jenny are U.S. citizens and have valid Social Security numbers. 7. Jenny qualifies the Washingtons for the Credit for Other Dependents. t f

Niles and Marsha adopted an infant boy (a U.S. citizen). They paid $16,150 in 2021 for adoption-related expenses. The adoption was finalized in early 2022. Marsha received $3,430 of employer-provided adoption benefits. For part (a), assume that any adoption credit is not limited by modified AGI or by the amount of tax liability. Required: What amount of adoption credit, if any, can Niles and Marsha take in 2022? Using the information in part (a), assume that their modified AGI was $243,000 in 2022. What amount of adoption credit is allowed in 2022? Note: Do not round intermediate calculations. Round your final answer to the nearest whole dollar amount.        Prev Question 3 of 3 Total3 of 3 Visit question mapThis is the last question in the assignment. To submit, use Alt + S. To access other

Rhoda Rabs emigrated from the Caribbean to Toronto in her twenties to pursue employment opportunities and have “a better life”. Rhoda has achieved her career goals in Toronto and has been able to help support her extended family financially in the Caribbean through regular remittances over the past 20 years. An island girl at heart, Rhoda would like to retire in the Caribbean within the next 15 years, in this regard she has opened a deferred annuity retirement account with a major Caribbean insurance company and is considering further equity and bond investments in the Caribbean in preparation for her retirement. During a recent family reunion trip, Rhoda shared her investment and retirement plans with her nephew Kerron who is a second year student at the UWI faculty of Social Sciences. Kerron’s reply was as follows:“Aunty Rhoda I have just completed a course in Financial Institutions & Markets and I can give you three good reasons NOT to invest in the Caribbean: (1) No one knows…

Marvin had the following transactions: Salary Compensation of body injury due to car accident Bank loan (proceeds used to buy personal auto) Alimony payment to ex-wife (divorce settled in 2018) Child support payment Gift from aunt Gain from sale of city of Bloomington bonds 5,000 Interest from City of Bloomington Bonds Interest received on the U.S. Government bonds Interest received on corporate (GE company) bonds Lottery winnings Life insurance proceed after her grandmother died Calculate Marvin's AGI: $50,000 15200 10,000 6,000 12,000 20,000 500 1,500 350 500 150,000

Question 27 of 50. Mark and Carrie are married, and they will file a joint return. They both work full-time, and their 2021 income totaled $89,000, all from wages. They have one dependent child, Aubrey (5). During the year, they spent $9,000 for Aubrey's child care. Neither Mark nor Carrie received any dependent care benefits from their employer. What amount may they use to calculate the Child and Dependent Care Credit? $0 $3,000 $8,000 $9,000 Mark for follow up

Interview Notes Herb and Alice are married and file a joint return. Herb is 74 years old and Alice turns 72 in February 2023. Neither are blind. • • . Alice is confused about the Required Minimum Distribution rules, and wants to know when she should take her first distribution from her IRA. Both Herb and Alice are retired. Herb works part time as a greeter. • Herb earned $12,000 in wages and has fully taxable pension income of $4,800. The couple also received Social Security benefits of $46,000. They received no other income in 2023. Herb and Alice's grandson, Stuart, lives with them while he attends the local university. Stuart is 20, a full-time student, and is claimed as a dependent by his parents. . Herb, Alice and Stuart are U.S. citizens, lived in the United States all year, and have valid Social Security numbers. 1. What is Herb and Alice's standard deduction? a. $27,700 Ob. $29,200 c. $29,550 d. $30,700

Just prior to a major medical procedure, Cody gives his son, Liam, stock in Robin Corporation (fair market value of $1,624,200 and basis of $2,273,880). At the time of the gift, Cody held some unused capital losses. The surgery is unsuccessful, and after Cody's death, Liam sells the stock for $2,501,268. Question Content Area a. What is the income tax result for Liam? $fill in the blank c46f48f55fc1018_1 Question Content Area b. What if the gift had not been made and the stock passed to Liam as a bequest from Cody?

Interview Notes Barbara is age 57 and was widowed in 2021. She owns her own home and providedall the cost of keeping up her home for the entire year. Her only income for 2021 was$36,000 in W-2 wages. Jenny, age 24, and her daughter Marie, age 3, moved in with her mother, Barbara,after she separated from her spouse in April of 2021. Jenny’s only income for 2021was $15,000 in wages. Jenny provided over half of her own support. Marie did notprovide more than half of her own support. Jenny will not file a joint return with her spouse. She did not receive advance childtax credit payments for 2021. All individuals in the household are U.S. citizens with valid Social Security numbers.No one has a disability. They lived in the United States all year but not in a communityproperty state. 10. Which of the following statements is true?                     A. Jenny is eligible to claim Marie for the EIC even though her filing status is married filing separate…

• Matthew is a 6th grade teacher at a public school. Matthew and Rebecca are married and choose to file Married Filing Jointly on their 2023 tax return. Matthew worked a total of 1,500 hours in 2023. During the school year, he spent $733 on unreimbursed classroom expenses. • Rebecca retired in 2020 and began receiving her pension on November 1st of that year. She explains that this is a joint and survivor annuity. She has already recovered $1, 259 of the cost of the plan. Matthew settled with his credit card company on an outstanding bill and brought the Form 1099 - C to the site. They aren't sure how it will impact their tax return for tax year 2023. The Monroes determined that they were solvent as of the date of the canceled debt. • Rebecca received $200 from Jury duty. Their daughter, Safari, is in her second year of college pursuing a bachelor's degree in Biochemistry at a qualified educational institution. She received a scholarship and the terms require that it be used to pay…