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item is not taxable shown below. Determine the and received the items and amounts of income shown Financial Planning Exercises LOZ LO2,3 2. for 2015 LO2 a b. . , the marginal rate is 0. Salary Dividends $30.000 Gift from mother 800 Child support from ex husband 500 Interest on savings account 3,600 Rental property 250 Loan from bank 900 Interest on state government bonds 2.000 300 Estimating taxable income tax liability, and potential refund. Hannah Owens is 24 years old and single. lives in an apartment, and has no dependents. Last year she earned 555,000 as a sales assistant for Business Solutions: $3,910 of her wages was withheld for federal income taxes. In addition, she had interest income of $142. She takes the standard deduction. Calculate her taxable income tax liability, and tax refund or tax avec 3. Calculating taxes on security transactions. If Julia Murray is single and in the 28 percent tax bracket calcular the tax impact of each of the following security transactions. (Use the IRS regulations for capital gains in effect 2015.) Treat each of the following cases as independent of the others. She sold stock for $1,200 that she purchased for $1,000 5 months earlier. She sold bonds for $4,000 that she purchased for $3,000 3 years earlier. She sold stock for $1,000 that she purchased for $1,500 15 months earlier. Bill's son, Joe, is 26 and a full-time graduate student at State U.For 2015, Bill provided Joe with $10.00 LOZ 4. support. Joe also received a scholarship of $10,000 which he used to pay his $8,000 tuition and provided some expenses with the remainder ($2,000). Can Bill claim Joe as a dependent using the qualified child rule? b. Can Bill claim Joe as a dependent using the qualified relative rule? LO2, 3 5. Calculating taxable income for a married couple filing jointly. Sam and Kate Coleman are married a one child. Sam is putting together some figures so that he can prepare the Colemans'joint 2015 tax return claim three personal exemptions (including himself). So far, he's been able to determine the following with income and possible deductions: Total unreimbursed medical expenses incurred $1,155 Gross wages and commissions earned 50,770 IRA contribution 5,000 5,200 Mortgage interest paid Capital gains realized on assets held less than 12 months 1,450 Income from limited partnership 200 Job expenses and other allowable deductions 875 Interest paid on credit cards 380 Qualified dividend income earned 610 a. item is not taxable shown below. Determine the and received the items and amounts of income shown Financial Planning Exercises LOZ LO2,3 2. for 2015 LO2 a b. . , the marginal rate is 0. Salary Dividends $30.000 Gift from mother 800 Child support from ex husband 500 Interest on savings account 3,600 Rental property 250 Loan from bank 900 Interest on state government bonds 2.000 300 Estimating taxable income tax liability, and potential refund. Hannah Owens is 24 years old and single. lives in an apartment, and has no dependents. Last year she earned 555,000 as a sales assistant for Business Solutions: $3,910 of her wages was withheld for federal income taxes. In addition, she had interest income of $142. She takes the standard deduction. Calculate her taxable income tax liability, and tax refund or tax avec 3. Calculating taxes on security transactions. If Julia Murray is single and in the 28 percent tax bracket calcular the tax impact of each of the following security transactions. (Use the IRS regulations for capital gains in effect 2015.) Treat each of the following cases as independent of the others. She sold stock for $1,200 that she purchased for $1,000 5 months earlier. She sold bonds for $4,000 that she purchased for $3,000 3 years earlier. She sold stock for $1,000 that she purchased for $1,500 15 months earlier. Bill's son, Joe, is 26 and a full-time graduate student at State U.For 2015, Bill provided Joe with $10.00 LOZ 4. support. Joe also received a scholarship of $10,000 which he used to pay his $8,000 tuition and provided some expenses with the remainder ($2,000). Can Bill claim Joe as a dependent using the qualified child rule? b. Can Bill claim Joe as a dependent using the qualified relative rule? LO2, 3 5. Calculating taxable income for a married couple filing jointly. Sam and Kate Coleman are married a one child. Sam is putting together some figures so that he can prepare the Colemans'joint 2015 tax return claim three personal exemptions (including himself). So far, he's been able to determine the following with income and possible deductions: Total unreimbursed medical expenses incurred $1,155 Gross wages and commissions earned 50,770 IRA contribution 5,000 5,200 Mortgage interest paid Capital gains realized on assets held less than 12 months 1,450 Income from limited partnership 200 Job expenses and other allowable deductions 875 Interest paid on credit cards 380 Qualified dividend income earned 610 a