LO.1, 2, 3, 4, 5, 6 Charlotte (age 40) is a surviving spouse and provides all of
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LO.1, 2, 3, 4, 5, 6 Charlotte (age 40) is a surviving spouse and provides all of the support of her four minor children who live with her. She also maintains the household in which her parents live and furnished 60% of their support. Besides interest on City of Miami bonds in the amount of $5,500, Charlotte’s father received $2,400 from a parttime job. Charlotte has a salary of $80,000, a short-term capital loss of $2,000, a cash prize of $4,000 from a church raffle, and itemized deductions of $10,500. Using the Tax Rate Schedules, compute the 2012 tax liability for Charlotte.
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South Western Federal Taxation 2013 Individual Income Taxes
ISBN: 9781133189558
36th Edition
Authors: William Hoffman, James E. Smith
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