During 2022, a divorced taxpayer with no dependents received or paid the following in 2022: 1. Wages (teacher) 2. Municipal bond interest 3. Qualified dividends 4. Inheritance from mother 5. Student loan interest paid 6. Gambling winnings 7. Gambling losses 8. Unemployment compensation 9. HCC tuition scholarship 10. Alimony paid to ex-spouse (divorced 2021) 11. Qualifying medical expenses 12. State income tax withholding 13. Personal property taxes on car 14. Charitable contributions 15. Rental property expenses Required: Using the letter code only, identify the tax treatment for each of the above numbered items as (a) inclusion, (b) exclusion, (c) for AGI deduction, (d) itemized deduction, (e) not deductible, (f) preferred tax treatment. More than one letter code may apply to a given numbered item. If a limitation applies to any of the numbered items, state the primary relevant dollar or percentage limitation.
During 2022, a divorced taxpayer with no dependents received or paid the following in 2022:
1. Wages (teacher)
2. Municipal bond interest
3. Qualified dividends
4. Inheritance from mother
5. Student loan interest paid
6. Gambling winnings
7. Gambling losses
8.
9. HCC tuition scholarship
10. Alimony paid to ex-spouse (divorced 2021)
11. Qualifying medical expenses
12. State income tax withholding
13. Personal property taxes on car
14. Charitable contributions
15. Rental property expenses
Required: Using the letter code only, identify the tax treatment for each of the above numbered items as (a) inclusion, (b) exclusion, (c) for AGI deduction, (d) itemized deduction, (e) not deductible, (f) preferred tax treatment. More than one letter code may apply to a given numbered item. If a limitation applies to any of the numbered items, state the primary relevant dollar or percentage limitation.
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