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1. Mtanrs hustiand dind thin year. Merd, whe fas not remaried, provided all the support for her Aephew Aames. whe a 18 y ars old

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1. Mtanrs hustiand dind thin year. Merd, whe fas not remaried, provided all the support for her Aephew Aames. whe a 18 y ars old james lived with Mardi for the entire year and is her qualifyine: child ander the dependency rules. What in the most beneficial filing status Marci can ciaim for the cancint year? A Abundoned Spouse b. Hewd of mosmehald c. Married faing foint at. Quakifine Whdower e. single 2. Teddy has run into financiat problems. As a result, he sells his whole life insurance policy to his friend, Buddy. As of the time of the sale. Teddy had made 15 of the 20 contractually required aninual premium payments on the policy. The annual premiums are $7,000, and the total premiums paid wil. be $140,000 upon satisfaction of the agreement. Buddy pays Teddy $200,000 for the policy, and he makes the remaining five premium payments on a timely basis over the next five years. When Teddy's dies in 10 years, what is Buddy's gross income if he receives $500,000 of death benefits under the policy? a. $0 b. $160,000 c. $265,000 d. $300,000 e. $500,000 3. Dana and Mike, married taxpayers who file jointly, had the following transactions in 2022 : What is the amount and character of the capital loss carryover to 2023? a. \$14,000 short term and $6,000 long term b. $17,000 short term and $6,000 long term c. $17,000 short term and $3,000 long term d. $20,000 short term e. $20,000 short term and $3,000 long term

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