Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Calculating total itemized deductions allowed (5 points) Tyler bad the following our in 2020. He owned a ccode that had a rental loss for the

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
Calculating total itemized deductions allowed (5 points) Tyler bad the following our in 2020. He owned a ccode that had a rental loss for the year of 53,500. He paid $4,200 in mortgage interest on his primary residence. He also paid $2,500 in real estate taxes on his primary residence. He paid $7,000 to asove acress states to switch jobs. None of his moving costs were reindeed. Desemine Tyler's total denized deductions allowed for 2020 Qa34200 Ob517,200 Dc56,700 Cd. None of the siwer given bere O $10,200 DE $13,700 4 points lave der Identifying qualifying children (4 points) The Striker household has 6 people in it. All the individuals are US citizens and, outside of Warren and Janet, none of the other individuals are married. The following activity occurred in 2020 Two parents: Warren and Janet, who are married and file jointly Three children: Les (age 16), Rex (age 201, and Tim (age 22) Lea lives with Warren and Janet all year and is entirely supported by them. Rex is an undergraduate college student at George Mason and lives in the dorm while at school but at home during the summer. He is a great student and earned a merit based scholarship to cover his tuition and foes of $10,000 that requires no service on his part. His parents pay $14,000 for his dorm costs, meal plan, and medical/dental care for the year Rex does not have any additional income of his own Tim lives at home with his parents all year and is unemployed. He does not attend school. His parents cover all of his housing, food, and insurance costs totaling $20,000 per year. Janet's mother Karm (77) She lives with Warren and Janet the entire year and does not work or file a separate tax return. She is entirely supported by Warren and Janet Determine the number of "qualifying child" Warren and Janet have for purposes of filing status. SOAL Oh Noor of Warren and Janet's child are qualifying children COLJ (042 Calculating total itemized deductions allowed (5 points) Tylet had the following occur as 2020. He owsed a condo that had a rental loss for the year of $3,500. He paid $4,200 in mortgage interest on his primary residence. He also paid $2,500 in real estate tan primary residence. He paid $7.000 to move across states to switch jobs. None of his moving costs were reimbursed. Denise Tyler's total itesized deductions allowed for 2020 O $4,200 06 317.200 M700 Od Nose of the use give ber $10.200 OF $13,700 Identifying qualifying children (4 points) The Striker household bas 6 people in it. All the individuals are US citizens and outside of Warren and Janet, none of the other individuals are married. The following activity occurred in 2020. Two parents Wacrea and Jant, who are married and file joutly Three children Lea (age 16), Rex (age 20), and Tim tage 22) Len lives with Warren sod Janet all year and is eatirely supported by the -Rex is an undergraduate college student George Masoo and lives in the dorm while at school but at home during the summer. He is a great stedeat and eamed ameris based scholarship to cover his muition and fees of $10,000 that requires no service en his part. His parents pay $14,000 for his donm costs, meal plan, and medical dental care for the year. Res does not have any additional income of his own, Tim lives at home with his parents all year and is Janet's mother Karen (77) employed. He does not attend school. His parents cover all of his housing, food, and insurance costs totaling $20,000 per year She lives with Wheren and Janet the entire year and does not work or file a separate tax retum. She is entirely nipported by Warm and Janet Determine the number of "qualifying children Warren and facet have for purposes of filing states 0=1 Oh None of Warm and Janet's children are qualifying children. OLJ 042 Calculating total itemized deductions allowed (5 points) Tyler bad the following our in 2020. He owned a ccode that had a rental loss for the year of 53,500. He paid $4,200 in mortgage interest on his primary residence. He also paid $2,500 in real estate taxes on his primary residence. He paid $7,000 to asove acress states to switch jobs. None of his moving costs were reindeed. Desemine Tyler's total denized deductions allowed for 2020 Qa34200 Ob517,200 Dc56,700 Cd. None of the siwer given bere O $10,200 DE $13,700 4 points lave der Identifying qualifying children (4 points) The Striker household has 6 people in it. All the individuals are US citizens and, outside of Warren and Janet, none of the other individuals are married. The following activity occurred in 2020 Two parents: Warren and Janet, who are married and file jointly Three children: Les (age 16), Rex (age 201, and Tim (age 22) Lea lives with Warren and Janet all year and is entirely supported by them. Rex is an undergraduate college student at George Mason and lives in the dorm while at school but at home during the summer. He is a great student and earned a merit based scholarship to cover his tuition and foes of $10,000 that requires no service on his part. His parents pay $14,000 for his dorm costs, meal plan, and medical/dental care for the year Rex does not have any additional income of his own Tim lives at home with his parents all year and is unemployed. He does not attend school. His parents cover all of his housing, food, and insurance costs totaling $20,000 per year. Janet's mother Karm (77) She lives with Warren and Janet the entire year and does not work or file a separate tax return. She is entirely supported by Warren and Janet Determine the number of "qualifying child" Warren and Janet have for purposes of filing status. SOAL Oh Noor of Warren and Janet's child are qualifying children COLJ (042 Calculating total itemized deductions allowed (5 points) Tylet had the following occur as 2020. He owsed a condo that had a rental loss for the year of $3,500. He paid $4,200 in mortgage interest on his primary residence. He also paid $2,500 in real estate tan primary residence. He paid $7.000 to move across states to switch jobs. None of his moving costs were reimbursed. Denise Tyler's total itesized deductions allowed for 2020 O $4,200 06 317.200 M700 Od Nose of the use give ber $10.200 OF $13,700 Identifying qualifying children (4 points) The Striker household bas 6 people in it. All the individuals are US citizens and outside of Warren and Janet, none of the other individuals are married. The following activity occurred in 2020. Two parents Wacrea and Jant, who are married and file joutly Three children Lea (age 16), Rex (age 20), and Tim tage 22) Len lives with Warren sod Janet all year and is eatirely supported by the -Rex is an undergraduate college student George Masoo and lives in the dorm while at school but at home during the summer. He is a great stedeat and eamed ameris based scholarship to cover his muition and fees of $10,000 that requires no service en his part. His parents pay $14,000 for his donm costs, meal plan, and medical dental care for the year. Res does not have any additional income of his own, Tim lives at home with his parents all year and is Janet's mother Karen (77) employed. He does not attend school. His parents cover all of his housing, food, and insurance costs totaling $20,000 per year She lives with Wheren and Janet the entire year and does not work or file a separate tax retum. She is entirely nipported by Warm and Janet Determine the number of "qualifying children Warren and facet have for purposes of filing states 0=1 Oh None of Warm and Janet's children are qualifying children. OLJ 042

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Marketing Research

Authors: David A. Aaker, V. Kumar , George S. Day

8th Edition

047123057X, 9780471230571

More Books

Students also viewed these Accounting questions

Question

=+ Is the information source free from bias on the subject?

Answered: 1 week ago

Question

=+ Is the information source knowledgeable about the subject?

Answered: 1 week ago

Question

=+2. How will it be used?

Answered: 1 week ago