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Marry is single. She has modified AGI of $20,000 and social security benifits of $2,000. The social security benifits Mary must include in gross income is?
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- Haley (age 48) and Myron (age 51) are married and filing a joint return. Myron has earned income of $42,000 and is not covered by an employer plan. Haley is a homemaker and does not work outside the home. What is the total amount they can deduct for contributions to traditional IRAs for both Haley and Myron? Select one: a. $6,500 b. $11,000 c. $13,000 d. $12,000Jax files single and claims his son, Zander (20). His adjusted gross income (AGI) is $184,000. What is the maximum amount Jax may potentially be able to claim for the credit for other dependents? • SO $500 o $2,000 o $3.000Jillian is single and her son, Parker is 18 years old. If her AGI is $68,200, what is her child or qualifying dependent tax credit for Parker in 2021? Multiple Choice $3,000 $500. $2,000. some other number.
- Determine the taxable amount of Social Security benefits for the following situations. If required, round your answers to the nearest dollar. If an amount is zero, enter "0". a. Tyler and Candice are married and file a joint tax return. They have adjusted gross income of $40,000 before considering their Social Security benefits, no tax-exempt interest, and $14,000 of Social Security benefits. As a result, $ of the Social Security benefits are taxable. b. Assume Tyler and Candice have adjusted gross income of $17,600 before considering their Social Security benefits, no tax-exempt interest, and $19,360 of Social Security benefits. As a result, $ of the Social Security benefits are taxable. c. Assume Tyler and Candice have adjusted gross income of $106,000 before considering their Social Security benefits, no tax-exempt interest, and $15,900 of Social Security benefits. As a result, $ of the Social Security benefits are taxable.Determine the taxable amount of Social Security benefits for…Determine the taxable amount of Social Security benefits for the following situations. If required, round your answers to the nearest dollar. If an amount is zero, enter "0". a. 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, $ of the Social Security benefits are taxable. b. Assume Tyler and Candice have adjusted gross income of $15,800 before considering their Social Security benefits, no tax-exempt interest, and $17,380 of Social Security benefits. As a result, $ 8,490 X of the Social Security benefits are taxable. c. Assume Tyler and Candice have adjusted gross income of $104,500 before considering their Social Security benefits, no tax-exempt interest, and $15,675 of Social Security benefits. As a result, 96,338 X of the Social Security benefits are taxable.Bill receives social security benefits of $10,000 and files a married-jont return which includes modified AGI consisting of $20,000. The base amount used in determining the taxability of the social security is?
- Compute the 2021 AMT exemption for the following taxpayers. If an amount is zero, enter "0". Click here to access the exemption table. a. Bristol, who is single, has AMTI of $708,200. Her AMT exemption is $ b. Marley and Naila are married and file a joint tax return. Their AMTI is $1,121,600. Their AMT exemption is $ Feedback Check My Work In theory, all individual taxpayers subject to the Federal income tax are subject to AMT. Whether a taxpayer has an AMT liability depends on a number of factors, including the taxpayer's income, family situation as well as the exclusions, deductions, and credits utilized in the calculation their regular Federal income tax liability. The AMT exemption amounts are phased out when AMTI exceeds certain threshold amounts.Determine the taxable amount of Social Security benefits for the following situations. If required, round your answers to the nearest dollar. If an amount is zero, enter "0". a. Tyler and Candice are married and file a joint tax return. They have adjusted gross income of $38,600 before considering their Social Security benefits, no tax-exempt 6,678 of the interest, and $13,510 of Social Security benefits. As a result, $ Social Security benefits are taxable. b. Assume Tyler and Candice have adjusted gross income of $16,200 before considering their Social Security benefits, no tax-exempt interest, and $17,820 of Social Security benefits. As a result, $ of the Social Security benefits are taxable. c. Assume Tyler and Candice have adjusted gross income of $118,000 before considering their Social Security benefits, no tax-exempt interest, and $17,700 of Social Security benefits. As a result, $ of the Social Security benefits are taxable.Suppose Alexa has a weekly paycheck with gross earnings of $1,234.00 and is single with no dependents. a. Calculate her Federal Withholding Tax for the pay period using the Wage Bracket Method. b. Find Alexa’s net pay, in addition to all mandatory deductions, she has union dues of $5.00, she has both medical and dental insurances and she has a cafeteria plan contribution of $15.00.
- Lanny and Shirley divorced in 2018 and do not live together. Shirley has custody of their child, Art, and Lanny pays Shirley $23,000 per year. All property was divided equally.Question: Calculate Total Assessable Income, Taxable Income, Tax Liability, Student loan (HECS), Medicare Levy, and Medicare Levy Surcharge if applicable, for the taxpayer (Susanne) with the information below: Susanne is a single and an Australian resident plans to lodge a tax return for the tax year 2020 - 2021. Her total taxable income is $90,000 (Including tax withheld). She does not have private health insurance. Susanne has a student loan HECS outstanding for her previous study at Sydney University of $53,000. Her employer pays superannuation guarantee charge of 9.5% on top of her salary to her nominated fund. Susanne earned a passive income of $10,000 from the investments in shares in the same tax year. Hint: The following website can be used to cross-check your answer, but you need to provide the detailed calculations, rates and explanations with the screenshots of rates from the ATO website. https://www.paycalculator.com.au/To be a qualifying relative, who has to live in the home of the taxpayer for the entire year? Multiple Choice O O Cousin. Stepchild. Father. Child.