Natasha is a 21 year old,unmarried student who lives alone. Last year her taxable income was $21,456.What was Natasha’s gross income last year?

Alex earns an income of $60,000 this year as a sole proprietor. He pays the following amounts during the year: ·  Contribution to Roth IRA: $5,000 ·  Self-Employment Tax: $9,000 ·  Health Insurance Premiums: $3,000 What is Alex’s Adjusted Gross Income (AGI)? Group of answer choices $47,500. $51,000. $52,000. $52,500.

Shauna Coleman is single. She is employed as an architectural designer for Streamline Design (SD). Shauna wanted to determine her taxable income for this year. She correctly calculated her AGI. However, she wasn't sure how to compute the rest of her taxable income. She provided the following information with hopes that you could use it to determine her taxable income. a. Shauna paid $4,680 for medical expenses for care related to a broken ankle. Also, Shauna's boyfriend, Blake, drove Shauna (in her car) a total of 115 miles to the doctor's office so she could receive care for her broken ankle. b. Shauna paid a total of $3,400 in health insurance premiums during the year (not through an exchange). SD did not reimburse any of this expense. Besides the health insurance premiums and the medical expenses for her broken ankle, Shauna had Lasik eye surgery last year and paid $3,000 for the surgery (she received no insurance reimbursement). She also incurred $450 of other medical expenses for…

Jill is 16 years old and worked at her local grocery store over the summer earning $5,600. Is Jill legally required to file a tax return? If no, should she? Explain.

Brian and Kim have a 12-year-old child, Stan. For 2018, Brian and Kim have taxable income of $52,000, and Stan has interest income of $4,500. Click here to access the income tax rate schedules. If Stan’s parents elected to report Stan’s income on his parents’ return, what would the tax on Stan’s income be?$

Adrienne is a single mother with a six-year-old daughter who lived with her during the entire year. Adrienne paid $2,850 in child care expenses so that she would be able to work. Of this amount, $860 was paid to Adrienne’s mother, whom Adrienne cannot claim as a dependent. Adrienne had net earnings of $2,000 from her jewelry business. In addition, she received child support payments of $21,800 from her ex-husband. Use Child and Dependent Care Credit AGI schedule.  Required:  What amount, if any, of child and dependent care credit can Adrienne claim?

Alison Jacobs (single) purchased a home in Las Vegas, Nevada, for $480,000. She moved into the home on September 1, year 0. She lived in the home as her primary residence until July 1 of year 4, when she sold the home for $744,000. If Alison's tax rate on long-term capital gains is 15 percent, what amount of tax will Alison pay on the $264,000 gain? (Enter only numbers with no dollar signs or other punctuation.)

Marisa is 16 years old and a dependent of her parents.  She earned $5,000 of income from wages working at Crave Ice Cream Shop and has $3,000 of interest income from corporate bonds. Which of the following statements are true? She is not subject to kiddie tax because she has earned income. She is subject to kiddie tax on both her earned and unearned income. Her unearned income over $2,200 is taxed at her parents’ tax rates. Her earned income over $2,200 is taxed at her parents' tax rates. Her earned income is taxed at her rates. All $3,000 of her investment income is subject to tax at her parents’ tax rates. Group of answer choices  I only  None of these options II only III and IV V only III and V

Bill Blake pays a property tax of $2,500. In his community, the tax rate is 55 mills. What is Bill's assessed value? Round to the nearest dollar.

Carmen Reyes worked part -time last year while attending college and earned $4,288. The total withholding taxes she paid were $450. Carmen also earned $78 in interest and $16 in dividends. How much tax refund should she receive