Greta Boyd (70), a single taxpayer, began receiving a pension of $2500 per month for life on June 1, 2006. Her 2021 Form 1099-R is hown below. Box 2a is blank. Which of the following statements is always correct? a. $30,000 is taxable b. Greta is subject to a 10% early distribution penalty c. if Greta made any after-tax contributions, the tax distribution is figured using the Simplified Method Worksheet d. None of Greta's distribution is taxable

Kyle Struck's filing status is single, and he has earned gross pay of $2,360. Each period he makes a 403(b) contribution of 8% of gross pay; and makes a contribution of 2% of gross pay to a cafeteria plan. His current year taxable earnings for Social Security tax and Medicare tax, to date, are $199,800.Social Security tax = $0.00Medicare tax = $ Please explain how the problem is solved?

Sophie is a single taxpayer. For the first payroll period in July 2022, she is paid wages of $1,100 semimonthly. Sophie claims one allowance on her pre-2020 Form W-4. Click here to access the withholding tables. IRS Publication 15-T, Federal Income Tax Withholding Method Pay period 2022 Allowance Amount Weekly $ 83 Biweekly 165 Semimonthly 179 Monthly 358 Quarterly 1,075 Semiannually 2,150 Annually 4,300 Round intermediate computations and your final answer to two decimal places. a. Use the percentage method to calculate the amount of Sophie's withholding for a semimonthly pay period. Sophie's withholding: $ 921 X

Louis files as a single taxpayer. In April of this year he received a $980 refund of state income taxes that he paid last year.   How much of the refund, if any, must Louis include in gross income under the following independent scenarios? Assume the standard deduction last year was $12,400. (Leave no answer blank. Enter zero if applicable.)   Problem 5-51 Part-c (Algo) c. Last year Louis claimed itemized deductions of $13,450. Louis’s itemized deductions included state income taxes paid of $3,870 and no other state or local taxes. Refund to be included in gross income -  ________

! Required information [The following information applies to the questions displayed below.] Louis files as a single taxpayer. In April of this year he received a $900 refund of state income taxes that he paid last year. How much of the refund, if any, must Louis include in gross income under the following independent scenarios? Assume the standard deduction last year was $12,950. Note: Leave no answer blank. Enter zero if applicable. b. Last year Louis had itemized deductions of $10,800 and he chose to claim the standard deduction. Louis's itemized deductions included state income taxes paid of $1,750 and no other state or local taxes. Refund to be included in gross income

2:Rachel Schillo earned gross pay of $1,900. She does not make any retirement plan contributions, and her current year taxable earnings for Social Security tax, to date, are $105,000.Total Social Security tax = $

Dd.4.

In 2022, Esther paid $20,000 in state income tax, and $20,000 in real estate taxes. Esther’s filing status is Single, and she claimed the above expenses as itemized deductions. In 2022, Esther’s deduction for state and local taxes is limited to which of the following amounts on her Federal Income Tax Return? Group of answer choices $10,000  $20,000  $40,000  $0

Farrah earns $180,000 this year (2023) from a small unincorporated business. What is her self- employment tax and additional Medicare tax liability (if any)? O $27,540 O $24,686 O $25,433 1.8 pts O None of these are correct

Maureen Smith is a single individual. She claims a standard deduction of $12,000. Her salary for the year was $134,750. What is her taxable income? a. $105,698 b. $120,620 c. $122,750 d. $121,863 e. $129,324