Question
In 2020, Marley, age 70 and head of household (unmarried), had income of $37,000 and exclusions of $500. Marley had adjustments/deductions for AGI of $2,500,
In 2020, Marley, age 70 and head of household (unmarried), had income of $37,000 and exclusions of $500. Marley had adjustments/deductions for AGI of $2,500, and his itemized deductions for the year totaled $21,000. Marley had a QBI deduction of $1,000. Marley is entitled to a tax credit of $2,000. What is Marleys taxable income?
Same facts as previous question except assume that Marley is age 70 and blind.
What is Marleys taxable income?
Marik, age 17, is a dependent of his parents. Marik earned wages of $600 and had interest income of $900. What is Mariks standard deduction amount?
Mazik, age 17, is a dependent of his parents. Mazik earned wages of $12,500 and had no investment income. What is Maziks standard deduction amount?
Malik, age 17, is a dependent of his parents. Malik earned wages of $2,500 and he had investment income of $2,500. What is Malik's standard deduction?
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