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LEXY BALLINGER AND HER 4 YEAR OLD SON CURRENTLY LIVE IN AN APARTMENT OWNED BY LEXYS PARENTS. HER PARENTS CHARGE HER VERY LITTLE RENT-200 PER
LEXY BALLINGER AND HER 4 YEAR OLD SON CURRENTLY LIVE IN AN APARTMENT OWNED BY LEXYS PARENTS. HER PARENTS CHARGE HER VERY LITTLE RENT-200 PER ONTH FOR A LUXURIOUS TWO-BEDROOM TOWNHOUSE. LEXY WORKS AT A LOCAL HOSPITAL AS A PHYSICIAN'S ASSISTANT, WHERE SHE EARNS 45,200 PER YEAR. SHE HAS NO DEDUCTIONS TO ITEMIZE.
A) WHAT IS LEXIS TAX LIABILITY
B) HOW WOULD LEXY'S TAX LIABILITY CHANGE IF SHE HAD A 15,000 AUTOMOBILE LOAN WITH MONTHLY PAYMENTS EQUAL TO 484 AND THE INTEREST PAID ON THE LOAN THIS YEAR WS 1,300?
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