Question: Miguel cashed in a Series E bond that had earned $840 in interest. He had elected to report the interest yearly and was required to

Miguel cashed in a Series E bond that had earned $840 in interest. He had elected to report the interest yearly and was required to include only $85 on his 2021 federal tax return. Which adjustment will need to be made on Miguel's California Schedule CA (540)?

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

JEFF CASHED IN A SERIES E BOND THAT HAD EARNED $840 IN INTEREST. HE HAD ELECTED TO REPORT THE INTEREST YEARLY AND WAS REQUIERED TO INCLUDE ONLY $85 ON HIS 2019 FEDERAL TAX RETURN. WHICH ADJUSTMENT...

Question 39 of 99. What adjustment(s) may need to be made on the California return when a taxpayer has California lottery winnings O An income subtraction and an itemized deduction addition O An...

Question 40 of 99. Jelf cashed in a Series Ebond that had earned $840 in interest. He had elected to report the interest yearly and was required to include only $85 on his 2018 federal tax return,...

40 is cut into pages. answers marked are wrong O Enter ($340) on Part I, line 2. column B. Enter (585) on Part I, line 2 column B. O Enter $85 on Part I line 2 column B Mark for follow up Question 41...

IfyouhaveplayedaSimulationcalledProBankerIneedhelpansweringthesequestionsassoonaspossible from the pro bankerassignment attachment..please use spreadsheet and players manual for reference. Need...

please I need help Question 1 of 70. An employee purchase discount benefit is: Always a taxable benefit. Generally a taxable benefit Always a nontaxable benefit. Generally a nontaxable benefit. Mark...

I need this 3 tax assignement done its about 1040 and Schedule d Form 1040 2016 (99) Department of the TreasuryInternal Revenue Service U.S. Individual Income Tax Return OMB No. 1545-0074 , 2016,...

Debra wants to know if her sister can be her qualifying child.Which of the following is not a test to be a Qualifying Child? Select one: a. The child must be under age 19 at the end of the year or...

Agency Funds. Does the government operate a tax agency fund or participate in a tax agency fund operated by another government? Does the government act as an agent for owners of property within a...

I could use some assistance on preparing an S Corporation Tax Return. The details are in the attached file. Acct 6113 S Corporation Due Date April 28, 2014 This problem is worth 100 points Prepare...

Access the annual report of Canadian Tire Corporation for the year ended January 2, 2010 (2009 annual report), from the companys website or SEDAR (www.sedar.com). According to the annual report, the...

The number of spacecraft, rocket bodies, mission-related debris, and fragmentation debris orbiting the Earth has in- creased greatly since the beginning of the Space Age in 1957. The numbers of such...

The cost concept means that amounts are recorded at their cost or purchase price amounts are recordifd at their market value amounts are recorded at their highest bidding price

Achille works for Liberty Autos in Oregon, where he earns $42,250 annually. He contributes $200 per month to his 401(k), of which his employer matches half of his contribution. Liberty Autos...

5. In small groups in your class, discuss how popular culture and films portray interpersonal relationships, considering specifically relationship stages. Discuss communication techniques that the...

4. As a new romantic relationship begins, keep a journal of the communication events that occur. In this journal, indicate the stage you perceive the relationship to be in (based on the stages in...

3. Consider a romantic relationship that has ended. Using the stages outlined in this chapter, create a time line of the relationship. Include significant turning points that encouraged the...