Question
Barry is 45 years old and a single taxpayer. In 2016, he has a gross income of $17,000 and itemized deductions of $6,500. If Barry
Barry is 45 years old and a single taxpayer. In 2016, he has a gross income of $17,000 and itemized deductions of $6,500. If Barry claims an exemption on his 2016 income tax return, what is his personal exemption amount?
Mary is 33 years old and a single taxpayer with a 2016 adjusted gross income of $29,400. Mary maintains a household for three dependent children and has itemized deductions of $3,000. What is the number of exemptions she can claim?
Betty, 39, and Steve, 50, are married with 2 dependent children. They file a joint return for 2016. Their salary income amounts to $155,000; they receive $1,000 in taxable interest and $2,000 in royalties. Your adjusted gross income deductions are $3,100; have itemized deductions totaling $41,000. What is your adjusted gross income?
Melissa is a 35-year-old single taxpayer with an adjusted gross income of $49,600. She uses the standard deduction and has no dependents. What is her adjusted gross income?
Theodore, 74, and Maureen, 59, are married taxpayers with 2 dependents. Their adjusted gross income for tax year 2016 is $43,600 and they have itemized deductions of $7,800. What is the number of exemptions for your 2016 tax return?
Step by Step Solution
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1 Barrys personal exemption amount can be calculated using the following formula Personal exemption ...Get Instant Access to Expert-Tailored Solutions
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