$1.$ On April $25,2023,$ Kyle made a charitable contribution of Nvidia Corporation common stock to the American Red Cross. He had purchased the stock on July $1,2021$ for $$5,000,$ and its fair market value on April $25,2023$ was $$21,000.$ Assuming Kyle itemizes his deductions when he files his $2023$ federal income tax return, what is Kyle$$s charitable contribution deduction in $2023$ for the Intel stock contribution?

$2.$ Oscar will file his $2023$ federal income tax return using the $$Single$$ filing status. Oscar purchased a new home in $2023$ to use as his principal residence. He borrowed $$1,200,000$ from a bank to help fund the purchase, and his bank loan is secured by the residence. What is the maximum loan amount on which Oscar can deduct mortgage interest expense on his $2023$ federal income tax return? $

$3.$ Ed owns and operates a restaurant delivery business as a sole proprietorship. Ed$$s marginal federal income tax rate in $2023$ on ordinary income is $37\%,$ and his marginal federal income tax rate on long$-$term capital gains is $20\%.$ Ed employs his $14-$year$-$old son, Henry, to work in his business. Henry$$s marginal federal income tax rate in $2023$ on ordinary income is $10\%,$ and his marginal federal income tax rate on long$-$term capital gains is $0\%.$ If Ed pays Henry a reasonable arm$$s$-$length salary of $$10,000$ in $2023$ to assist with deliveries, how much federal income tax will the family save in $2023$ by using this income$-$shifting strategy?

$4.$ Chris will file his $2023$ federal income tax return using the $$Single$$ filing status. During $2023,$ Chris recognized a $$30,000$ gain on the sale of an apartment building. The entire gain was characterized as unrecaptured Section $1250$ gain. If Chris$$s taxable income $($including the $$30,000$ gain$)$ in $2023$ was $$230,000,$ how much tax will he owe on his $$30,000$ gain from the sale of the apartment building?

$5.$ Glory owns an apartment building which she leases to tenants. She is actively involved in approving tenants, negotiating lease terms, and making property maintenance decisions for the apartment building. Glory has adjusted gross income $($AGI$)$ of $$120,000$ in $2023$ before considering a $$30,000$ loss from leasing the apartment building. Assume that Glory$$s $$30,000$ rental loss is not limited by any tax basis, at$-$risk or excess business loss limitations$.$ How much of the $$30,000$ loss can Glory deduct as a $$for AGI$$ deduction on her $2023$ federal income tax return?

$6.$ Fred accepted a permanent expatriate assignment from his employer to work in Switzerland beginning on May $27,2023.$ Pursuant to the terms of his employment contract, Fred is not allowed to visit the United States for at least $2$ years. Therefore, he will qualify for the foreign$-$earned income exclusion in $2023$ using the $330-$day test. Fred was outside of the United States for the entire $219-$day period from May $27,2023$ through December $31,2023,$ and he earned a salary of $$80,000$ during that time. What is Fred$$s foreign$-$earned income exclusion for $2023?$

$7.$ Julissa purchased $1,000$ shares of Intel stock on October $18,2018$ for $$30$ per share. She paid a $$750$ commission to her broker in connection with the purchase. On December $12,2023,$ Julissa sold the $1,000$ shares for $$42\mathrm{.}50$ per share. She paid a $$1,000$ fee in connection with the sale. How much gross income will Julissa recognize in $2023$ from the sale of her Intel stock?

$8.$ During $2023,$ Alex earned a salary of $$100,000$ and interest income on State of New York bonds of $$5,000.$ He had no other income and paid no deductible expenses. If Alex files his $2023$ federal income tax return using the $$Single$$ filing status, what is his effective tax rate in $2023($round your answer to the nearest hundredth of one percent i$.$e$.,$ xx$.$xx$\%)?$

$9.$ Becky will file her $2023$ federal income tax return using the $$Single$$ filing status, and she will deduct the standard deduction of $$13,850.$ In $2022$ Becky also filed her federal income tax return using the $$Single$$ filing status. On her $2022$ federal income tax return, Becky claimed a qualified business income $($QBI$)$ deduction of $$2,000$ and she deducted itemized deductions of $$14,000$ because they exceeded her $2022$ standard deduction of $$12,950.$ Her $$14,000$ of itemized deductions in $2022$ resulted from Illinois income taxes paid of $$10,500($limited to $$10,000)$ and charitable contributions of $$4,000.$ On April $15,2023,$ Becky filed her $2022$ Illinois income tax return and received a $$1,600$ refund of the $2022$ Illinois income taxes she had overpaid. How much of the $$1,600$ refund must Becky include in her gross income in $2023?$