Question
CH7: HOMEWORK 1 Determine the standard deduction for the following taxpayers. Unless indicated, none of the taxpayers are blind or can be claimed as a
CH7: HOMEWORK 1 Determine the standard deduction for the following taxpayers. Unless indicated, none of the taxpayers are blind or can be claimed as a dependent on another return: 1. MFJ, ages 65 and 49, and one is blind.12,950 +1400 =14,350 2. Single, age 19, earned income of $6,250, dependent on rent's return. 3. Single, age 22, interest income $3,250, dependent on parent's return. 4. MFS, age 35, the spouse is not itemizing. 5. MFS, age 69, the spouse is not itemizing. Using the Tax Tables or the Tax Computation Worksheet, determine the tax for the following taxpayers. 6. QSS, taxable income $82,320 7. MFJ, taxable income $234,500 8. Single, taxable income of $39,466 gain from selling shares of stock. She is filing HOH and has a
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