Question
Camille Sikorski was divorced in 2017. She currently provides a home for her 15-year-old daughter Kaly. Kaly lived in Camilles home for the entire year,
Camille Sikorski was divorced in 2017. She currently provides a home for her 15-year-old daughter Kaly. Kaly lived in Camille’s home for the entire year, and Camille paid for all the costs of maintaining the home. She received a salary of $100,000 and contributed $6,100 of it to a qualified retirement account (a for AGI deduction). She also received $15,000 of alimony from her former husband (per divorce decree issued in 2017). Finally, Camille paid $17,100 of expenditures that qualified as itemized deductions. (Use the tax rate schedules and 2019 rules.)
a. What is Camille’s taxable income?
b. What would Camille’s taxable income be if she incurred $12,500 of itemized deductions instead of $17,100?
c. Assume the original facts but now suppose Camille’s daughter, Kaly, is 25 years old and a full-time student. Kaly’s gross income for the year was $7,100. Kaly provided $4,260 of her own support, and Camille provided $7,100 of support. What is Camille’s taxable income?
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Get StartedRecommended Textbook for
Essentials Of Federal Taxation 2019
Authors: Brian Spilker, Benjamin Ayers, John Robinson, Edmund Outslay, Ronald Worsham, John Barrick, Connie Weaver
10th Edition
1260189988, 1260189678, 9781260189674, 978-1259917103, 125991710X, 978-1260190045
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