Exhibit 9.3 Basic Standard Deduction Amounts Filing Status 2017 2018 Single $ 6,350 $ 12,000 Married, filing jointly 12,700 24,000 Surviving spouse 24,000 Head of household 12,700 9,350 6,350 18,000 Married, filing separately 12,000 Exhibit 9.4 Amount of Each Additional Standard Deduction Filing Status 2017 2018 Single $ 1,550 $1,600 Married, filing jointly 1,250 1,300 Surviving spouse 1,250 1,300 Head of household 1,550 1,600 Married, filing separately 1,250 1,300 Problem 9-12 (a) (LO. 1, 2, 3) The following information applies to Jasmine, who is single, for 2018: Salary $56,000 1,500 3,000 Interest income from First Bank of Lexington Dividends from Watters Company stock Contribution to a traditional IRA Loan repayment from her friend Capital loss from sale of personal vehicle Number of potential dependents Age 4,000 1,000 (2,300) Jasmine maintains a household for her sister, who has $9,000 from Social Security. In addition, Jasmine's aunt lives with her and has income of $3,000. Click here to access the standard deduction table to use. Indicate whether the following items are taxable or nontaxable to Jasmine. Salary Taxable Loan repayment from a friend Not taxable Interest income Taxable Dividend income Taxable Identify whether the items are deductible (fully or partially) by Jasmine. Contribution to a traditional IRA Deductible Capital loss from sale of personal vehicle Not deductible Jasmine's taxable income in 2018 is $ 35,000 X. Exhibit 9.3 Basic Standard Deduction Amounts Filing Status 2017 2018 Single $ 6,350 $ 12,000 Married, filing jointly 12,700 24,000 Surviving spouse 24,000 Head of household 12,700 9,350 6,350 18,000 Married, filing separately 12,000 Exhibit 9.4 Amount of Each Additional Standard Deduction Filing Status 2017 2018 Single $ 1,550 $1,600 Married, filing jointly 1,250 1,300 Surviving spouse 1,250 1,300 Head of household 1,550 1,600 Married, filing separately 1,250 1,300 Problem 9-12 (a) (LO. 1, 2, 3) The following information applies to Jasmine, who is single, for 2018: Salary $56,000 1,500 3,000 Interest income from First Bank of Lexington Dividends from Watters Company stock Contribution to a traditional IRA Loan repayment from her friend Capital loss from sale of personal vehicle Number of potential dependents Age 4,000 1,000 (2,300) Jasmine maintains a household for her sister, who has $9,000 from Social Security. In addition, Jasmine's aunt lives with her and has income of $3,000. Click here to access the standard deduction table to use. Indicate whether the following items are taxable or nontaxable to Jasmine. Salary Taxable Loan repayment from a friend Not taxable Interest income Taxable Dividend income Taxable Identify whether the items are deductible (fully or partially) by Jasmine. Contribution to a traditional IRA Deductible Capital loss from sale of personal vehicle Not deductible Jasmine's taxable income in 2018 is $ 35,000 X
