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I need help with both of these problems. Thank you so much. Chapter 8 Taxation of Individuals 2021: c. e. 56. LO7 Determine whether each
I need help with both of these problems. Thank you so much.
Chapter 8 Taxation of Individuals 2021: c. e. 56. LO7 Determine whether each of the following taxpayers must file a return for a. Jamie is a dependent who has wages of $4,150. a b. Joel is a dependent who has interest income of $1,200. Martin is self-employed. His gross business receipts are $24,000, and business expenses are $24,300. His only other income is $2,600 in dividends from stock he owns. d. Valerie is 68 and unmarried. Her income consists of $6,500 in Social Security benefits and $15,000 from a qualified employer-provided pension plan. Raul and Yvonne are married and have two dependent children. Their only income is Raul's $26,000 salary. 57. LOZ Determine whether each of the following taxpayers must file a return for 2021: a. Felicia is a dependent who has wages of $6,350 and interest income of $225. b. Jason is a dependent who has interest income of $800. c. Jerry is self-employed. His gross business receipts are $43,000, and business expenses are $40,300. His only other income is $1,200 in interest from mu- nicipal bonds. d. Wayne and Florencia are married and have one dependent child. Wayne stays home and takes care of their child. Florencia's salary is $23,000. ISSUT IDENTIFICATION PROBLEMS Chapter 8 Taxation of Individuals 2021: c. e. 56. LO7 Determine whether each of the following taxpayers must file a return for a. Jamie is a dependent who has wages of $4,150. a b. Joel is a dependent who has interest income of $1,200. Martin is self-employed. His gross business receipts are $24,000, and business expenses are $24,300. His only other income is $2,600 in dividends from stock he owns. d. Valerie is 68 and unmarried. Her income consists of $6,500 in Social Security benefits and $15,000 from a qualified employer-provided pension plan. Raul and Yvonne are married and have two dependent children. Their only income is Raul's $26,000 salary. 57. LOZ Determine whether each of the following taxpayers must file a return for 2021: a. Felicia is a dependent who has wages of $6,350 and interest income of $225. b. Jason is a dependent who has interest income of $800. c. Jerry is self-employed. His gross business receipts are $43,000, and business expenses are $40,300. His only other income is $1,200 in interest from mu- nicipal bonds. d. Wayne and Florencia are married and have one dependent child. Wayne stays home and takes care of their child. Florencia's salary is $23,000. ISSUT IDENTIFICATION PROBLEMSStep by Step Solution
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