1.Albert (age 68) and his wife Jenny (age 70) file a joint return. They furnish all of the support of Luke (Albert's90-year old father) who lives with them. In 2019, the couple receivedinterest and dividend income on corporate stocks and bonds of $50,000 and $6,000 of interest from government municipal bond. Compute Albert and Jenny'staxable income for 2019.

Question 2 Tax Formula & Tax Determination:Robertwas employed during the first six months of the year and earned a $90,000 salary. During the next sixmonths, he collected $7,200 of unemployment compensation, borrowed $6,000 (using his personal residence ascollateral), and withdrew $1,000 from his savings account (including $60 interest). When he left his former employer,he withdrew his retirement benefits (a qualified annuity) in a lump sum of $50,000. He made no contributions to theplan. Robert's parents loaned him $10,000 (interest-free) on July 1 of the current year, when the Federal rate was3%. Robert did not repay the loan during the year and used the money for living expenses.

Calculate Robert'sadjusted gross income for the year.

Question 3 Critical Thinking:Compare and contrast the constructive receipt doctrine and the assignment of income doctrine.

In what situations do these doctrines apply? What tax planning strategies does each doctrine limit?

Question 4 Critical Thinking:Boeing is considering opening a plant in one of two neighboring states, Oregon or California.

Let's just say, California has a corporate tax rate of 15%.If operated in this state, the plant is expected to generate $1,200,000 pretax profit.

In Oregon state has a corporate tax rate of 5%and operation in Oregon state, the plant is expected to generate $1,085,000 of pretax profit.

Which state should Boeing choose based upon tax considerations only?

Why do you think the plant in the state with a lower tax rate would produce a lower pretax income?