irst of the year. Adrian would like you to determine whether she should include the $10,000 on her 2018 or 2019 tax return.

Christie sued her former employer for a back injury she suffered on the job in 2021. As a result of the injury, she was partially disabled. In 2022, she received $240,000 for her loss of future income, $160,000 in punitive damages because of the employer's flagrant disregard for the employee's safety, and $15,000 for the reimbursement of medical expenses. What's Christie's gross income in 2021? Please explain.

Jasmin is a mechanic. She runs her own business specialising in repairing electric cars. During the year, Jasmin incurred the following expenses: a) salary costs to her two regular employees of $150,000 (paid electronically through the business’s payroll system, which automatically applies the relevant tax withholding and pays the amount to the ATO); b) $5,000 on special overalls and eye goggles for Jasmin and her employees to use when they are repairing cars; c) childcare costs of $22,000 so that Jasmin can go to work every day;   d) $1,000 on a one-day course on a new accounting software program that Jasmin wants to use in the business to better comply with new tax reporting requirements.   Required:   Advise Jasmin whether the above expenses would be deductible for income tax purposes.

Skip rented an office building to Chris for $1,000 per month. On December​ 29, 2018​, Skip received a deposit of $7,000 in addition to the first and last​ months' rent. Occupancy began on January​ 2, 2019. On July​ 15, 2019​, Chrisclosed his business and filed for bankruptcy. Skip had collected rent for​ February, March, and April on the first of each month. Skip had received May rent on May​ 10, but collected no payments afterwards. Skip withheld $1,000 from the deposit because of damage to the property and $500 for unpaid rent. He refunded the balance of the deposit to Chris.   Requirement What amount would Skip report as gross income for2018​? for 2019​?   Begin by selecting the labels to show the items that will comprise Skip​'s 2018 gross​ income, and then enter the amounts to compute the 2018 gross income amount. ​(If an input field is not​ used, leave the input​ field(s) empty; do not select a label or enter a​ zero.)   Taxable item 2018 Gross income…

Alexi files her tax return 29 days after the due date. Along with the return, she remits a check for $9,500, which is the balance of the tax she owes. The failure to file is not attributable to fraud. Assume 30 days in a month. If required, round your answers to nearest whole value. Disregarding any interest liabilities, Alexi's total penalties are as follows: Failure to pay penalty: $fill in the blank 1.Failure to file penalty: $fill in the blank 2.

Paige is a commissioned Navy officer and a lifelong Oregon resident. In 2021, she earned $8,400 in nontaxable combat pay while stationed overseas in a combat zone. She earned an additional $9,800 while stationed in South Korea. In May, she was transferred back to Oregon where she earned $29,000. Paige included $38,800 of her military pay in her federal AGI. How much is Paige's military pay subtraction on her Oregon return? $9,800 $15,800 $18,200 $38,800

Griffin is a server at a la Jolla restaurant. Griffin received 1200 in unreported tips during 2022 and owes social security and Medicare tax on these tips. His total income for the year including tips is 3400. Is Griffin required to file an income tax return for 2021?

Ashley Panda lives at 1310 Meadow Lane, Wayne, OH 43466, and her Social Security number is 123-45-6777. Ashley is single and has a 20-year-old son, Bill. His Social Security number is 111-11-1112. Bill lives with Ashley, and she fully supports him. Bill spent 2019 traveling in Europe and was not a college student. He had gross income of $4,655 in 2019. Bill paid $4,000 of lodging expenses that Ashley reimbursed after they were fully documented. Ashley paid the $4,000 to Bill using a check from her sole proprietorship. That amount is not included in the items listed below. Ashley had substantial health problems during 2019, and many of her expenses were not reimbursed by her health insurance. Ashley owns Panda Enterprises, LLC (98-7654321), a data processing service that she reports as a sole proprietorship. Her business is located at 456 Hill Street, Wayne, OH 43466. The business activity code is 514210. Her 2019 Form 1040, Schedule C for Panda Enterprises shows revenues of $315,000,…

Bree and Kyle are not related. During 2020, Bree loans Kyle $15,000, which he intends to use to establish a small business. Under the terms of the loan Kyle agrees to repay Bree the $15,000 plus interest (at a reasonable stated rate) over a five-year period. The business is unsuccessful, and Kyle is forced to file for bankruptcy in 2021. By the end of 2021, it is estimated that the creditors will receive only 25% of the amount owed. In 2022 the bankruptcy proceedings are closed, and the creditors receive 10% of the amount due on the debt. Requirement What is Bree's bad debt deduction for 2021? For 2022? (Complete all input fields. Enter a "0" if no bad debt deduction can be taken.) Bree's bad debt deduction for 2021 will be Bree's bad debt deduction for 2022 will be

Erika has a mining operation. In 2021, she earned 175 coins with a fair market value (FMV) of $250 per coin at the time she received them. She received 11.25 coins at the same time for transaction verifications. She had no other income from the mining. She sold 120 of the coins for $265 per coin a month later. Her deductible expenses for the mining operation were $12,000. Finally, she earned ten coins for interest with an FMV of $2,300 total. How much net income does Erika show on her Schedule C?