California: Jimmy (67) and Barbie (75) are married, have one dependent,and cannot be claimed as dependents. Their CA filing status is Married/RDP Filing Jointly, and their gross income and AGI are $57,193.Which of the following is true?10 of 10O They are not required to file a CA tax return.O They are required to file a CA tax return based on their gross income.They are required to file a CA tax return based on their gross incomeand AGI.O They are required to file a CA tax return based on their AGI.Access forms

In California, the requirement to file a state tax return is not solely based on gross income; it…

Answered: California: Jimmy (67) and Barbie (75)…

Income Tax Fundamentals 2020

38th Edition

ISBN:9780357391129

Author:WHITTENBURG

Publisher:WHITTENBURG

Chapter1: The Individual Income Tax Return

Section: Chapter Questions

Problem 13P

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Similar questions

1.Tyler and Candice are married and file a joint tax return. They have adjusted gross income of $39,400 before considering their Social Security benefits, no tax-exempt interest, and $13,790 of Social Security benefits. As a result, $____ 13,790 of the Social Security benefits are taxable. 2.Assume Tyler and Candice have adjusted gross income of $89,500 before considering their Social Security benefits, no tax-exempt interest, and $13,425 of Social Security benefits. As a result, $____ of the Social Security benefits are taxable.
Which one of the following conditions must be satisfied in order for a married taxpayer to be taxed on only his income if he resides in a community property state? a.The husband and wife must live apart for the entire year. b.The husband and wife must live apart for more than half the year. c.The husband and wife must be in the process of filing for a divorce. d.Only one of the spouses can be working and earning an income. e.None of these choices are correct.
. Erwin and Eleanor are married and file a joint tax return. They have adjusted gross income of $39,600, no tax-exer 13,860 of Social Security benefits. As a result, $ of the Social Security benefits are taxable. Assume Erwin and Eleanor have adjusted gross income of $18,400, no tax-exempt interest, and $20,240 of Social result, $ of the Social Security benefits are taxable. Assume Erwin and Eleanor have adjusted gross income of $103,000, no tax-exempt interest, and $15,450 of Socia result, $ of the Social Security benefits are taxable.
Which of the following is not true? Taxpayers must file a federal income tax return if their gross income exceeds the standard deduction amount set for their filing status If Tony's wife died on January 1, 2020 and he remarried on December 31, 2020, he can only file either married filing jointly or married filing separately with his new wife. The 16th Amendment to the US Constitution legalized the direct taxation of individuals' income. For US tax purposes, the tax rate on individuals' income is a flat rate
Which dependent must file a 2022 California income tax return? Jackson (5), is an unmarried dependent of another taxpayer. His California gross income is $1,600 and his California adjusted gross income (AGI) is $1,600 (all from interest). Levi (16), is an unmarried dependent of another taxpayer. His California gross income is $1,300 and his California AGI is $1,300 (all from wages). Theo (17), is an unmarried dependent of another taxpayer. His California gross income is $1,500 and his California AGI is $1,500 ($1,400 wages plus $100 interest). Wyatt (18), is an unmarried dependent of another taxpayer. His California gross income is $3,500 and his California AGI is $3,500 ($3,250 wages plus $250 ordinary dividends).
a. Tyler and Candice are married and file a joint tax return. They have adjusted gross income of $42,200 before considering their Social Security benefits, no tax-exempt interest, and $14,770 of Social Security benefits. As a result, s X of the Social Security benefits are taxable. h Arrumadaand
a. Tyler and Candice are married and file a joint tax return. They have adjusted gross income of $39,800 before considering their Social Security benefits, no tax-exempt interest, and $13,930 of Social Security benefits. As a result, s of the Social Security benefits are taxable. b. Assume Tyler and Candice have adjusted gross income of $16,000 before considering their Social Security benefits, no tax-exempt Interest, and $17,600 of Social Security benefits. As a result, of the Social Security benefits are taxable. c. Assume Tyler and Candice have adjusted gross income of $119,500 before considering their Social Security benefits, no tax-exempt interest, and $17,925 of Social Security benefits. As a result, s of the Social Security benefits are taxable.
Pedro Rodríguez Cruz and Mónica Santiago Del Valle, are married under the community property regime and file their income tax return as married filing jointly. Pedro's date of birth is January 1, 1950 and Monica's is February 1, 1955. The couple's address is Urb. Bella Vista, Calle Monte #1, San Juan, PR 00910. Both are citizens of the United States. United States of America, residents of Puerto Rico, have not generated income outside of Puerto Rico, and are not military. During taxable year 2021, they carried out the following activities.Pedro Rodriguez, dba, Medical Equipment & SuppliesPedro, merchant (Salesperson-retail), owns a business on his own (“sole proprietorship”), Medical Equipment & Supplies dedicated to the sale and distribution of medical equipment. The business is located in San Juan. Pedro began operations on January 2, 2012 and works there about 40 hours a week. The result of its operations, under the accrual method and on a tax basis, during 2021 was as…
Suppose Sam and Cory are married and are deciding whether to use the filing status of Single or of Married filing jointly. Cory has a taxable income of $50,000 and Sam has a taxable income of $100,000. If they both file as Singles, together, how much would they owe in federal income taxes?
Julia and Maria are registered domestic partners filing jointly for California tax purposes. Their combined Form 540, line 19, taxable income is $73,721. What is their tax to be entered on line 31 if using the tax table? $4,108 $2,060 $2,578 $2,154 Julia and Maria are registered domestic partners filing jointly for California tax purposes. Their combined Form 540, line 19, taxable income is $73,721. What is their tax to be entered on line 31 if using the tax rate schedule? (round your answer) $3,528 $2,061 $2,398 $2,155
Theodore (67) and Jessica (59) are married with no dependents. Jessica is legally blind. They cannot be claimed as dependents on someone else's tax return. What is the amount of their personal exemption credit on their 2021 California return? $129 $258 $387 $516 Answer: Married filing joint :258 Blind 129 Over 65 years old: 129 Total= 258+129+129= 516
Olga is married and filed a joint tax return with her husband. Her AMTI is $1,182,000. What is the amount of AMT exemption?

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