15. During 2018, Ketty had the following transactions: Salary Interest income on Wayne Township bonds Car loan Value of BMW received as a gift from aunt Federal income tax withholding payments $ 79,000 2,000 1,000 3,000 5,000 Ketty's AGI is: a. $74.000. b. $76,000. c. $79,000. d. $81.000. e. $90,000 True/False (2 points each x 8-16 points) Indicare whether the sentence or statement is true or false by making the scan-tron form provided a ALLOCATE 10 MINUTES FOR THIS SECTION, True False 16. The pay-as-you-go feature of the Federal income tax requires individuals with income from sources other than wages to make semi-annual estimated tax payments. 17. Moe prepares a tax return for Carlos and charges him $500. Moe tells Carlos to pay Vlad the $500 (Moe had borrowed $500 from Vlad and is repaying the loan). Vlad must pay the tax on the income. 18. A Preparer Identification Tax Number (PTIN) is required for all paid tax preparers. 19. Luis owned stock that decreased in value by $5,000 during the year, but he did not sell the stock. Luis has a realized and recognized loss in the amount of $3.000. 20. A maximum of 50% of social security benefits may be taxable depending on the taxpayer's modified AGL 21 lack recently won $100,000 in the lottery. He currently owes S120,000 on a business property that he owns WillyP Bank holds the mortgage on the property and has agreed to accept $100,000 in complete satisfaction of the debt. Jack must recognize $20,000 income, assuming the liability is qualified business debt. 22. The FICA tax on wages is imposed on the employer only 23. Itemized deductions are reported on Schedule C