Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

not sure what the answer is. please explain cenario 5: Aurora Davis Interview Notes . Aurora and Oscar separated in 2017 and divorced in October

image text in transcribed

not sure what the answer is. please explain

cenario 5: Aurora Davis Interview Notes . Aurora and Oscar separated in 2017 and divorced in October 2019. She earned $40.000 in wages and paid more than half the cost of keeping up her home in 2019. Aurora and Oscar have a son, Milo, who is 17 years old and unmarried. Aurora signed Form 8332 (Release/Revocation of Release of Claim to Exemption for Child by Custodial Parent) allowing Oscar to claim Milo in 2019. . Milo is a full-time student working towards a degree in computer information systems. Milo lived on campus during the school year and spent the summer at home with his mother. Milo does not a have a felony drug conviction and is not a qualifying child for anyone except Aurora. Aurora paid $5,000 of Milo's tuition that was not covered by his scholarship. Aurora provided more than half of her son's support and all the cost of his room and board on campus. Milo's only income was $3,800 in wages and $400 of dividend income. He had no federal or state tax withholding. Aurora and Milo are U.S. citizens and have valid Social Security numbers. ario 5: Test Questions 10. Is Milo required to file a federal tax return? a. Yes, because Milo's gross income was more than the gross income limit required to file a federal tax return. D. Yes, because Milo had unearned income over the unearned income limit of $1,100 required to file a federal income tax return. No, because Milo had earned income that was under the earnings limit that requires him to file a tax return. d. No, because Milo didn't have any federal or state income tax withholding. use table children and dependents

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Fundamentals Of Cost Accounting

Authors: Michael W Maher, William N. Lanen, Madhav V. Rajan

1st Edition

0073018376, 978-0073018379

More Books

Students also viewed these Accounting questions

Question

What are the objectives of Human resource planning ?

Answered: 1 week ago

Question

Explain the process of Human Resource Planning.

Answered: 1 week ago

Question

What is the submission deadline for the final report?

Answered: 1 week ago

Question

What is the indicative word limit?

Answered: 1 week ago