Question
As a tax return preparer for The Fernando Rodriguez Tax & Accounting Service, you have been asked to calculate the missing information for one of
As a tax return preparer for The Fernando Rodriguez Tax & Accounting Service, you have been asked to calculate the missing information for one of the firm's tax clients. The following table gives the standard deduction for various filing statuses.
| Single or married filing separately | $12,000 |
|---|---|
| Married filing jointly or surviving spouse | $24,000 |
| Head of household | $18,000 |
| 65 or older and/or blind and/or someone else can claim you (or your spouse if filing jointly) as a dependent: | Varies (See www.irs.gov for information.) |
Using the standard deduction table above, complete the following table (in $).
| Name | Filing Status | Income | Adjustments to Income | Adjusted Gross Income | Standard Deduction | Itemized Deductions | Taxable Income |
|---|---|---|---|---|---|---|---|
| Warfield | single | $ | $3,240 | $55,660 | $ ---Select--- 12,000 24,000 18,000 | $14,160 | $ |
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Audit Risk Alert Employee Benefit Plans Industry Developments 2019
Authors: AICPA
1st Edition
1948306867, 978-1948306867
