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AGI and taxable income 18. During 2018, Sandeep had the following transactions Salary $ 80,000 Interest income on City of Baltimore bonds 1,000 Damages for
AGI and taxable income
18. During 2018, Sandeep had the following transactions Salary $ 80,000 Interest income on City of Baltimore bonds 1,000 Damages for personal injury (car accident) 100,000 . . Punitive damages (same car accident) 200,000 Cash dividends from Chevron Corporation stock 7,000 Calculate Sandeep's AGI 19. What is the difference between an inheritance tax and an estate tax? Who imposes these taxes? 20. In 2017, Ashley earns a salary of $55,000, has capital gains of $3,000, and receives interest income of $5,000 and Child Support of $10,000. Ashley is unmarried and has a dependent son, Tyrone, who is age 8. Her itemized deductions are $9,000. Calculate Ashley's taxable income for 2017Step by Step Solution
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