ID: A 15. Ron, age 19, is a full-time student at City University. During 2017, he raccived the following payments: State scholarship-tuition State scholarship- room and board Loan from college financial aid office Ron was walking to class and hit by a drunk driver. He broke his leg and received $50,000 for his injury 6,000 3,000 2,000 50,000 Ron also received $10,000 for punitive damages 10,000 What is Ron's adjusted gross income for 2017? a. $13,000. b. $21,000. c. $61,000. d. $71,000. e. None of the above. True False (2 points each x 8 = 16 points) ndicate whether the sentence or statement is true or false by marking the scan-tron form provided a-True, b - False LLOCATE 10 MINUTES FOR THIS SECTION 16. Luis owned stock that decreased in value by $5,000 during the year, but he did not sell the stock. Luis has a realized and recognized loss in the amount of $3,000. The balance of the loss, $2,000, can be carried forward to offsct future income 17. The FICA tax on wages is imposed on the employer only 18. The pay-as-you-go feature of the Federal income tax requires individuals with income from sources other than wages to make semi-annual estimated tax payments Jake became a partner w ith a 20% nterest in the partnership profits when he invested S200 000 In 2017, the partnership generated $400,000 of taxable income, and Jake withdrew $100,000. He must report $180,000 in gross income from the partnership 19. The $40,000 payment reduces Anthony's AGI and increases Keshia's AGI 21. A Preparer Identification Tax Number (PTIN) is required for all paid tax preparers. 22 In 2018, under the new tax laws, the standard deduction amount is 20. Anthony carned $100,000 during the current year. He paid Keshia, his former wife, $40,000 in child support